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5 Cards in this Set
- Front
- Back
- 3rd side (hint)
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sole proprietorship
3 |
1. one person owner
2. easiest 3. least expensive to start |
LION
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major disadvantages of SP
5 |
1. unlimited liability
2. owner resp. for all debt 3. owner may not recognize prob 4.need lots of $$ to start 5. when owner dies, bus. dies |
$$$
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partnership
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1. 2 or more people own bus.
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2 types of partnerships
4 |
1. general - all partner =
2. limited - some people run - others invest |
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advantages of partnerships
2 |
1.same as proprietorships
2. same tax advantages |
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