Much About Business
Intro to Business Organizations
The Sole Proprietorpship is the most common form of business organization.
- Starting your own lemonade stand is an example of sole proprietorship.
- Unlimited Liability is the requirements that an owner is personally and fully resposible for all losses and debts of a businesses.
Most difficult to raise financial capital.
People start Sole Proprietorship for profit.
If Alexis Parker and I start a Hair Salon called Double A's Salon is an example of Partnership
- the benefit of specialization
- start partnership for profit
- share financials
- limited liability
- sells stocks to raise financial capitals
- operated by a Board of Directors
- easiest to raise financial capital
- people start corporation for profit