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  • Nicolai Cardenas: Forms of Business Organization Advantages Disadvantages Sole Proprietoship

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    The document compares the advantages and disadvantages of different forms of business organization: Sole proprietorships have fewer requirements but the owner is personally liable for all losses and debts. Partnerships allow for more capital but profits and losses are shared, and each partner is liable for the others' debts. Cooperatives exist to benefit members but can have inefficient management and lack incentives.

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    The document compares the advantages and disadvantages of different forms of business organization: Sole proprietorships have fewer requirements but the owner is personally liable for all losses and debts. Partnerships allow for more capital but profits and losses are shared, and each partner is liable for the others' debts. Cooperatives exist to benefit members but can have inefficient management and lack incentives.

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    10 views1 page

    Nicolai Cardenas: Forms of Business Organization Advantages Disadvantages Sole Proprietoship

    Uploaded by

    yaa miii
    The document compares the advantages and disadvantages of different forms of business organization: Sole proprietorships have fewer requirements but the owner is personally liable for all losses and debts. Partnerships allow for more capital but profits and losses are shared, and each partner is liable for the others' debts. Cooperatives exist to benefit members but can have inefficient management and lack incentives.

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    NICOLAI CARDENAS

    FORMS OF BUSINESS ORGANIZATION


    ADVANTAGES DISADVANTAGES
    Sole Proprietoship • EASIER PROCESSES AND FEWER •OWNER IS PERSONALLY LIABLE
    REQUIREMENTS FOR BUSINESS FOR ALL BUSINESS LOSSES AND
    TAXES LIABILITIES

    • MORE STRAIGHT FORWARD • LACK OF FINANCIAL CONTROL


    BANKING AND DIFFICULTY TRACKING
    EXPENSES
    • THE OWNERS ENJOY SOLE
    CONTROL OF THE BUSINESS • LIMITED ACESS TO CAPITAL
    PROFITS
    Partnership • MORE CASH BECAUSE A • PARTNERSHIP ALSO ENTAILS
    PROSPECTIVE PARTNER CAN SHARING ANY BUSINESS LOSSES,
    BRING AN INFUSION OF CASH INTO AS WELL AS RESPONSIBILITY FOR
    THE BUSINESS ANY DEBTS EVEN IF THEY ARE
    INCURRED BY THE OTHER
    • HAVING A PARTNER CAN ALLOW PARTNER
    YOU TO SHARE THE FINANCIAL
    BURDEN FOR EXPENSES AND • YOU WOULD NOW SHARE
    CAPITAL EXPENDITURES NEEDED CONTROL WITH A PARTNER AND
    TO RUN THE BUSINESS. IMPORTANT DECISIONS WOULD BE
    MADE JOINTLY
    • MAY AFFORD YOU TO EASE AND
    FLEXIBILITY TO PURSUE MORE • EACH PARTNER IS LIABLE FOR
    BUSINESS OPPORTUNITIES THEIR SHARE OF THE
    PARTNERSHIP DEBTS AS WELL AS
    BEING LIABLE FOR ALL THE DEBTS
    Cooperatives • IT EXISTS AND OPERATES FOR • INEFFICIENT MANAGEMENT
    THE BENEFIT OF ITS PATRON RIGID RULES AND REGULATIONS
    MEMBERS. LACK OF INCENTIVE AND
    INITIATIVE.
    • OFTER PROVIDE QUALITY GOODS
    AND SERVICES TO AREAS THAT
    ARE USUALY ALIENATED BY
    MAJOR CORPORAIONS

    • STABILITY

    11- SAPPHIRE

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