BUEC 1000 Study Guide - Final Guide: Swot Analysis, General Partnership, Limited Liability Partnership

• School: York University
• Department: Business Economics
• Course: BUEC 1000
• Professor: Scott Cawfield

Document Summary

Business: what are three kinds of entrepreneurs, with examples, classic: business owners who are risk takers, multipreneurs: entrepreneurs who start many ventures, intrapreneurs: employees who apply their creativity within a companyambitious, independent, self-confident, risk takers, Ch. 8 : questions related to forms of business. Proprietorship: easy/inexpensive to form, profits go to the owner, direct control, relative freedom from government regulations, no corporate taxation, easy to dissolve, easy to form, usually more access to capital, diversity of skills and. Partnership expertise: more flexibility, no corporate taxation, relative freedom from, government regulations, limited liability, ease of transfer of ownership, unlimited life, ability to attract financing, ability to attract employees. Corporation: unlimited liability, difficulty in raising capital. General partnership: partners share in the management and profits. Limited partnership: at least one general partner and one or more limited partners whose liability is limited to their investment.