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BUS 1000 Final: BUS_2000_FINAL_EXAM_STUDY_GUIDEdocx

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melissab20178
13 May 2023
School
Baruch College
Department
Business Administration and Policy
Course
BUS 1000
Professor

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Document Summary

Understand the types of business ownership: sole proprietorship, partnership, llc, c . Sole proprietorship (most businesses) generally small mom-and-pop businesses. Unlimited liability ex) bakery hires an employee and they accidentally put glass into croissants want compensation they sue you for everything you have major lawsuits hospital bills insurance companies. You do not want to be a sole proprietorship when you have to be the only one liable. One person show, access to capital is small. The best & the brightest might want to work at a big company with better benefits. Working a lot (7 days a week) What is the di erence between a general partnership and a limited partnership. Passive investors (limited liability - only liability is the money they invest) If they invest k, the worst that will happen is that they lose the k they invested. Generally the gp takes a large portion of the profit from the passive investor.

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Related Questions

Partnerships refer to more than one owner. A limited partnership ______________.
a) consists of general partners and limited partners, at least one of each
b) is a shadow firm for a much larger corporation. It is like a shell company to dispose of risky assets
c) is taxed similar to a corporation, whereas a general partnership is taxed like a sole proprietorship
d) is limited by the number of partners allowed. There can only be a total of 10 partners actively involved in the business

Imagine a business that you could hypothetically start.

1 .Which business ownership structure (LLC, General Partnership, Limited Partnership, S-Corp, C-Corp) would you select? Why?

2. What are the advantages that you see with the particular business ownership structure that you chose?

3. Are there any disadvantages?

4. Why do you think the business ownership structure that you chose is better than other corporate structures?

In 250-500 words

Using Google Slides, design their own business, select an original company name, and choose which type of business organization is being implemented based on the activity completed in the guided practice (sole proprietorship, partnership, and corporation).

Then explain the advantages and disadvantages of the business organization you chose and why those appealed to you more than the others.

 

YOU MUST research the information on business competition. Lastly prepare a presentation of your findings and be prepared to give an oral presentation.

MUST BE WRITTEN IN COMPLETE HIGH SCHOOL LEVEL SENTENCES.

Because I choose The Great Pizza & Pasta Place.

And my business organization is partnership

I need you to help me because I don’t know how to answer the questions on my own.