--%>

Define the Legal forms of businesses

Define the Legal forms of businesses?

E

Expert

Verified

a. Sole proprietorship: a business owned by a single individual.

b. Partnership: two or more individuals own and operate the business in a partnership agreement.

c. Corporation: a legal entity distinct from its individual owners.  The organization acts as “legal person.”

   Related Questions in Business Economics

  • Q : Independent queue vs. pooled queue

    Instruction: McDonald's vs. Burger King - these two fast food chains use different waiting line design: Independent queue vs. pooled queue. To compare the two different queue systems on equal footing, let's assume that we pick a McDonald's sto

  • Q : Problem on utility function Matt’s life

    Matt’s life is divided into two time periods, young and old, and his utility is a function of two “goods”:  consumption when young and consumption whenever old.  Consumption when young and consumption when old are both of normal goods to Ma

  • Q : U.S. exports create a demand for

    True or false? “U.S. exports create a demand for foreign currencies; foreign imports of U.S. goods generate supplies of foreign currencies.”  Explain.

  • Q : Raising consumer surplus problem For

    For the question below, utilize the given information. The market for gizmos is competitive, with an increasing sloping supply curve and a downward sloping demand curve. With no govt. intervention, the equilibrium price is $25 and the equilibrium quantity is 10,000 gi

  • Q : History of King Louis world of commerce

    Early in the 18th century, a leading industrialist responded to an advisor of King Louis IV of France, who asked how the crown could most excellent facilitate the world of commerce, along with “Laissez nous faire,” that im

  • Q : Write short note on Demand Write short

    Write short note on Demand, Supply and Equilibrium?

  • Q : Define Dependent and independent

    Define Dependent and independent variables?

  • Q : Technology in production Drawing a

    Drawing a production possibilities frontier needs the supposition that: (1) Decision makers encompass discretion over resource accessibility. (2) Technology is constant. (3) Income is fairly distributed. (4) Resources are considerably diverse. (5) At least three goods

  • Q : Market system & a command economy try

    Contrast how a market system and a command economy try to cope with economic scarcity?

  • Q : Importance of Price Earnings Ratio

    Write down the importance of Price Earnings Ratio?