Business Types

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Title: Business Types

Essay Details:

Subject: Business

Author:

Date: January 15, 2016

Level: University

Grade: A

Length: 3 / 608

Essay text:

The owner would be responsible for all debts of the business. The income from the business would not be taxed as a business; instead all the income subject to taxation would be taxed to the owner. A sole proprietorship avoids the expense of forming a partnership or corporation, and is the easiest and cheapest way to start a business. Most individuals start businesses using this method because they’re aren’t aware of the other forms of business. (My Own Business, 2007). Second, there can be a partnership. In a partnership there are two or more persons as owners. There are also two more elements that each person has to agree to in order for a partnership to form; they have to share a common interest in the business and share the profits or losses...

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