What type of legal entity do many entrepreneurs use and why? Multiple Choice Sole Proprietorships due to the ease of initially setting up an organization. C Corporation due to its accounting system an...
What type of legal entity do many entrepreneurs use and why?
Multiple Choice
Sole Proprietorships due to the ease of initially setting up an organization.
C Corporation due to its accounting system and financial reporting information.
C Corporation due to its ability to finance with both debt and stock.
LLC due to its tax advantages and the limited liability aspect to owners.
Homework Answers
A sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity.
The answer is:
a) Sole Proprietorships due to the ease of initially setting up an organization.
Add Answer to:
What type of legal entity do many entrepreneurs use and why? Multiple Choice Sole Proprietorships due to the ease of initially setting up an organization. C Corporation due to its accounting system an...
agree or not? What are the advantages and disadvantages of changing the company organization from a...
agree or not? What are the advantages and disadvantages of changing the company organization from a sole proprietorship to an LLC? A sole proprietorship is a company that is own by one person and is the simplest form of business to start (Ross, Westerfield & Jordan, 2020). Since there is only one owner for the organization, the sole proprietor retains all the profits from the business. On the other hand, a sole proprietor is also responsible for any debts, liabilities...
TRUE OR FALSE/ MULTIPLE CHOICE and word response questions. C. a more permanent government involvement in the ba...
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QUESTION 1 Manuela has worked as an accountant in her own accounting business, a sole proprietorship,...
QUESTION 1 Manuela has worked as an accountant in her own accounting business, a sole proprietorship, for more than seven years. Among the services she offers is tax return filing and personal investment advising. Which of the following is true of Manuela’s business? A. Manuela has little control over the management and operations of her business. B. Manuela has unlimited liability. C. Outside funding for the business has been easy for Manuela to obtain. D. Manuela had varied and complicated...
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