how sole proprietorship different from other business entities? how LLC different from other business entities? how...
how sole proprietorship different from other business entities?
how LLC different from other business entities?
how general partnership different from other business entities?
how limited partnership different from other business entities?
how limited liability partnership different from other business entities?
how limited liability limited partnership different from other business entities?
how s-corporation different from other business entities?
how c-corporation different from other business entities?
how non profit corporation different from other business entities?
Homework Answers
As per the policy, I have answered one question.
1.
Answer:- Sole proprietorship different from other business entities in the following ways:-
1) It is quite simple when compared with other businesses as its cost are low and less formality is required.
2) It does not file a tax return and the profit or loss is listed on the personal tax return of the owner.
3) Record-keeping is far more straightforward.
4) All operational decisions are taken by the business owners.
5) It does not share profits.
6) The business owner is personally responsible for all liabilities.
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how sole proprietorship different from other business entities?
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I need some clarification.
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