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Small-Business Idea Paper
Finance & Accounting
Pages 5 (1255 words)
Small-Business Idea Paper Table of Contents Overview 3 Advantages and Disadvantages of Four Different Forms of Business Organizations 3 Sole Proprietorship 3 Partnership 4 C-Corporation 5 S-Corporation 5 Financial Statements Associated with the Forms 6 Consequences Associated With the Forms 7 Tax Implications 7 Legal Implications 8 Accounting Implications 8 Description of the Business 9 Rationale for the Selection of the Business Form 9 References 10 Overview The paper will emphasize on the assessment of the advantages and the disadvantages in relation to various forms of businesses so as to identify the appropriate business form to be established with the assistance of government funds.
Advantages and Disadvantages of Four Different Forms of Business Organizations There are fundamentally four types of business forms currently practiced by entrepreneurs, such as sole proprietorship, partnership, C-Corporation, and S-Corporation. However, with due consideration to their practical implementation, various advantages and disadvantages can be identified which are elaborated in the further discussion. Sole Proprietorship Majority of the businesses observed in the locality are of this kind. The most significant advantages served by this form of business are the minimum obligation of legal implications. ...
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