Organizing and financing a new venture - describe the proprietorship, partnership, and corporate forms of business organization

7 important questions on Organizing and financing a new venture - describe the proprietorship, partnership, and corporate forms of business organization

Name three important decisions in the start-up stage.

1) Do i need to regroup
2) do i need to restructure
3) do i need to walk away from the venture

Allowing an entrepreneur to conduct the full range of business activities with almost no additional expense to the organization is a primary advantage of?

proprietorship

A drawback of proprietorship is?

the proprietor has unlimited liability. not able to cover by venture's assets
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What is the UPA and what does it stand for?

Uniform partnership act, the ups provides the precedence in general partnership law.

What is a limited partnership?

a limited partnership is a formal organization governed by state law and, unless the partnership strictly uniforms to state restrictions, will be regarded as a general partnership.

What is a corporation?

a corporation is a legal entity that separates the personal assets of the owners, called shareholders, from the assets of the business.

What does a limited liability company (llc) provide?

it provides the owners with limited liability and passes its income before taxes through to the owners.

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