Textbook Notes (368,317)
Canada (161,798)
MGTA01H3 (583)
Chapter 4

Notes for Chapter 4 of Business, Vol. 1, 2e

3 Pages
66 Views
Unlock Document

Department
Management (MGT)
Course
MGTA01H3
Professor
Chris Bovaird
Semester
Summer

Description
MGTA03 Business, Volume 1 R. Griffin, R. Ebert, F. Starke Chapter 4 Understanding Legal Forms of Business Organization Organizing Options; Forms of Business Ownership Sole Proprietorship - Sole proprietorship: a business owned and operated by one person; the business is considered an extension of the sole proprietor, not a separate legal entity - Sole proprietorships account for a small portion of total business revenues o Advantages of a Sole Proprietorship freedom; sole proprietor is the only boss in hisher business and does not have to answer to anyone no need to register easy to form; very simple legal setup procedures and low start-up costs tax benefits o Disadvantages of a Sole Proprietorship unlimited liability: sole proprietor is responsible for all debts, owner may be obliged to pay out of own pocket lack of continuity: business will legall
More Less

Related notes for MGTA01H3

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit