Ask Question
BusinessBusiness
5 May, 22:58

Do you know, and can you describe, the three principal ways a for-profit business might legally organize?

+2
Answers (1)
  1. 5 May, 23:50
    0
    1. Sole Proprietorship

    2. Limited Liability Company (LLC)

    3. Corporation

    Explanation:

    1. Sole Proprietorship - This is also called a one-man business. It could be your small neighbourhood store and so on. It is usually owned and run by the same person. The owner has unlimited liability and thus can lose his/her personal properties where the business is in debt.

    2. Limited Liability Company (LLC) - these are private limited liability companies, and as name implies, the liability of its members is limited to the amount they contribute to the business. The Company is a legal entity and can own, buy and sell properties in its name

    3. Corporation - This is a public company, its share is quoted on the stock exchange and can be freely traded. The ownership (shareholders) of the public corporation is different from those who run them (management). The Company is a legal entity and can own, buy and sell properties in its name
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Do you know, and can you describe, the three principal ways a for-profit business might legally organize? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
When the excess capacity of business expands unintentionally, aggregate: demand will increase supply will decrease?
Answers (1)
Explain how a contractionary fiscal policy affects gdp?
Answers (1)
Your grandfather tells you that he earned $7,000/year in his first job in 1961. You earn $35,000/year in your first job in 2016. You know that average prices have risen steadily since 1961.
Answers (1)
Ford produces a wide variety of vehicles for individuals, businesses, manufacturers, and even schools. It also operates its own financing division, Ford Motor Acceptance Corp. It seems as if Ford has many production processes
Answers (1)
Explain why do objects used as money need to be in limited supply?
Answers (1)
New Questions in Business
Checking a diversified company's business portfolio for the competitive advantage potential of cross-business strategic fits does not involve determining whether sister business units have value chain match-ups that offer opportunities to 1.
Answers (1)
The project manager is a systems analyst with a diverse set of skills-management, leadership, technical, conflict management, and customer relationship-who is responsible for initiating, planning, executing, and closing down a project A. True B.
Answers (2)
A firm operated at 80% of capacity for the past year, during which fixed costs were $210,000, variable costs were 70% of sales, and sales were $1,000,000.
Answers (1)
Sally works at All About Tires. Sally's boss tells her that the new tires they received in the store will last for 60,000 miles and are effective in the snow. Sally is a new employee and does not know much about tires herself.
Answers (1)
You visit the local convenience store looking for a refreshing drink on a pleasant day. you know that you want a new type of cola beverage you've heard advertised on the radio, and reach into the refrigerator for what you think is the caffeine-free
Answers (1)
Home » Business » Do you know, and can you describe, the three principal ways a for-profit business might legally organize?
Sign Up Forgot Password?