--%>
Assignment Help - homework help

Describe proprietorship-partnership and corporation

Briefly describe the terms proprietorship, partnership, and corporation.
A proprietorship is a business owned by one person.

  • Two or more people who join together to develop a business make up a partnership. It can be done on an informal basis with no a written partnership agreement or a contract can spell out the rights and responsibilities of each one.
  • A restricted liability company is a hybrid among a partnership and a corporation. Profits & losses pass through to the members. Generally, Members enjoy restricted liability.
  • Corporations are legal entities split from their owners. To build a corporation, the owners indicate the governing rules for the running of the business in a contract termed as the articles of incorporation. They submit the articles to the government of the state wherein the corporation is created, and the state issues a charter which creates the separate legal entity.

   Related Questions in Finance Basics

  • Q : Describe the Hirfindahl-Hirschman Index

    Describe the Hirfindahl-Hirschman Index?The Hirfindahl-Hirschman Index, or HHI, is the standard measure employed by economists to evaluate market concentration. The greater the level of concentration amongst competitors, the higher the HHI. The

    		•
  • Q : Explain Generally Accepted Accounting

    Generally Accepted Accounting Principles (GAAP): The accounting rules, principles, conventions, and procedures which are employed for accounting and financial reporting. The GAAP for governments are put by the Governmental Accounting Standards Board (

    		•
  • Q : Make mutual and stockholder-owned

    Compare and make mutual and stockholder-owned savings and associations of loan. Some savings and loan associations are owned through stockholders, just as commercial banks and other corporations are owned through their stockholders.  Other

    		•
  • Q : Impact on India on Global Economic

    Explain the impact on India on Global Economic crisis ?

    		•
  • Q : Define Tort Tort : It is a civil wrong,

    Tort: It is a civil wrong, other than a breach of contract, for which the court awards indemnity. The traditional torts comprise malpractice, negligence, assault and battery. Lately, torts have been widely expanded such that the interference with a co

    		•
  • Q : Nominal GDP and suitable price index

    Normal 0 false false

  • Q : Are there security and soundness

    Are there security & soundness implications of mergers?No. All mergers needs regulatory approval and are subject to intense examination through regulators. If anything, the influence on safety and soundness is in general positive, as mergers

    		•
  • Q : Compute GDP by the expenditure - income

    Normal 0 false false

    		•
  • Q : Question on level of free market wage

    In the year of 1996, the U.S. Congress raised the minimum wage from $4.25 per hour to $5.15 per hour. Some of the people suggested that a government subsidy could help employers finance the higher wage. Assume the supply of low-skilled labour is specified by

    		•
  • Q : Translate enterprise value in net

    Describe the adjustments essential to translate enterprise value to the net present value of common equity.To get the value of the company's common stock, add up the value of the firm's present assets to the enterprise value (this generates the

    		•