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Merits and demerits of a sole proprietorship

Problem 1. What are the advantages and disadvantages of a sole proprietorship?

Problem 2. What is the difference between a general partnership and a limited partnership? Which of these two business structures would you choose for the new business you are starting with four partners? Why did you choose this type of partnership?

Problem 3. What is a C corporation?

Problem 4. What is an S corporation?

Problem 5. Which type of corporation (C or S) would you choose for the new business you are starting with twenty associates? Why did you choose this type of corporation for your new business structure?

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