Lit Format

Sample Format for the LIT1-Task One
Task Instructions:  
Write a report (suggested length of 5–7 pages) about the forms of business organizations listed below. Your report should have a subheading for each business form with a brief description of the business form and a brief discussion of the key characteristics, advantages, and disadvantages of that form of organization.
*Course Mentor Additional Note on the above Instructions:   According to the instructions in Taskstream, you may conclude the task is asking you to describe the six of seven characteristics AND list advantages and disadvantages for each business organization.   But to clarify, as you describe the characteristics for each business organization, the advantages and disadvantages will become apparent ergo (Liability of Sole Proprietorship is a disadvantage when comparing it to the Liability of the Regular C-Corporation); Further, there is no rubric in Task One for disadvantages/advantages—only for the characteristics—so it is not necessary to have two sections for the six of seven characteristics AND the disadvantage/advantages, just list the characteristics.

Differentiate among the following forms of business by explaining how at least six of the seven key characteristics listed in the introduction to this task apply to each of the following organizational forms:
1. Sole Proprietorship
2. General Partnership
3. Limited Partnership
4. C-Corporation
5. S-Corporation
6. Limited Liability Company

SAMPLE FORMAT

Sole Proprietorship:   Write a brief description of the form of business ownership, advantages and disadvantages.   The key characteristics of the form of ownership should be addressed by discussing six of the seven bullet points below.     You will want to have the heading as the form of business ownership and then use the bulleted list below for the key characteristics.
· Liability
· Income Taxes
· Longevity or Continuity of the Organization
· Control
· Profit... [continues]

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