Q.1 Identify the pros and cons of the partnership as a form of ownership? A partnership is formed when two or more people engage in a business activity and share investment‚ profit and loss. Just like any other form of ownership‚ it has its advantages and disadvantages. Following we discuss some of the pros and cons of a partnership. Pros of the Partnership (1) Ease of Formation: Partnership is comparatively simple to form. All you need to form a partnership is an agreement. A verbal
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his busy schedule‚ this is one of the only times we get to spend time just the two of us. The United States is the leading country in guns per resident‚ with "88 for every 100 people” (Reuters). There are going to be pros and cons as a result of this fact. Pros for gun ownership include a large population to use them for recreation‚ and guns can be used for defense to deter crime. “…Most gun owners use their guns for each of these three purposes: crime protection (67%)‚ target shooting (66%)‚
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contract exposed to the public where it is accessible‚ I will not be able to weigh out all the pros and cons of the agreement to provide complete reasoning for my opinion. The articles and information exposed as of today could be targeted to only one side of the argument and favoring the pros side‚ or vice versa. Most of my ideas were formed from the opinions of professionals dealing with the Trans-Pacific Partnership because of the lack of information‚ analysts can only make predictions and educated estimates
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compared with other forms of business entities. Examples of sole proprietorship businesses are tailor shops‚ beauty saloons‚ restaurants‚ launderettes and mini market. Partnership is an association of two or more persons or entities that carry on business as partners. The partners usually run and manage the business. However‚ there may be a silent partner who does not take any part in the running of the business even though they have contributed capital to the partnership. In a partnership‚ each partner
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Sole Proprietorship A Sole Proprietorship is a type of business where there is no legal difference or distinction between the business and its owner. Legally‚ the name of a sole proprietorship is the name of the owner‚ unless a DBA is filed. Advantages include the ease and simplicity of creating a sole proprietorship‚ autonomy‚ and the benefits of financial freedom. Disadvantages are unlimited liability‚ continuity‚ limited resources‚ and raising working capital. * Liability – The liability
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have to the owner. In numerous states‚ people can legally own these exotic animals‚ though some require a permit. Consequently‚ there have been countless of accidents where either the animal or people have been injured or killed which is why the ownership of exotic animal should be outlawed. Therefore‚ outlawing possession of dangerous creatures is crucial because the animals need to be out in their natural habitat‚ owning them is dangerous‚ and the difficulty of caring for
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The United States Supreme Court has ruled that gun ownership is a fundamental right of the citizens of the United States. There are some citizens that feel that they can now own any weapon that they want. There are still certain guns that are illegal for the average citizen to own these are weapons that are regulated to the military and some law enforcement. There are Federal rules that must be observed and met prior to a person obtaining a gun. These are safety rules and rules that are meant to
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Selecting A Form of Business Ownership Outline Introduction A. The Learning Goals of this chapter are to: 1. Describe the advantages and disadvantages of a sole proprietorship. 2. Describe the advantages and disadvantages of a partnership. 3. Desribe the advantages and disadvantages of a corporation. 4. Explain how the potential return and risk of a business are affected by its form of ownership. 5. Describe methods of owning existing businesses. B. One of the most important decisions
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1. Describe each of the options available and identify the pros and cons to manage our waste - Waste Management methods - disposal (landfill)‚ incineration Negatives LANDFILL: Toxins: Many materials that end up as waste contain toxic substances. Over time‚ these toxins leach into our soil and groundwater‚ and become environmental hazards for years. Electronic waste is a good example. Waste such as televisions‚ computers and other electronic appliances contain a long list of hazardous substances
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Forms of Small Business Ownership Chapter 8 Three business ownership choices: 1.Sole Proprietorship 2.Partnership 3.Corporation Sole Proprietors hip A business owned and operated by a single person. What are the Advantages of Sole Proprietorship ? Advantages of Sole Proprietorship Ease and Cost of Formation Distribution and Use of Profits Control of the Business Government Regulation Taxation Closing the Business What are the Disadvantages of Sole Proprietorship? Disadvantages
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