BUSN 110 Study Guide - Midterm Guide: Income Statement, Financial Statement, Limited Liability Company
Document Summary
Communication channel is effective if selected by understanding its impact toward the decision made. Selection of the right words encourages the audience to stay with the speaker and absorb the communicated message. Effective business writing is achieved by striking the right tone, avoiding grammatical errors, and using block paragraphs and headings and bulleted lists. Successful verbal presentations are created and delivered by understanding the structure of the presentation and its impact on the audience. Basic forms of business ownership are sole proprietorship, partnership, corporation, and llc. Corporations are a dominant form of business ownership because they are legal entities that stand apart from the owners. Limited liability companies are becoming the increasingly popular form of business ownership because they have limited liability, tax pass through, and are simple and flexible to manage. Evaluating the advantages and disadvantages of franchising helps one to understand why it is a well-established method of operating a business in today"s economy.
