Which best describes the difference between sole proprietorships and partnership?
A sole proprietorship has one owner, while a partnership has two or more owners. Sole proprietorships and partnerships are common business entities that are simple for owners to form and maintain. The main difference between the two is the number of owners.
What is the difference between a sole proprietorship and a partnership quizlet?
A major advantage of sole proprietorships is that an owner has limited liability for the debts of his or her business. In a general partnership, all partners share in management of the business and in the liability for the firm’s debts. when you own your own business you are responsible for all the business debts.
What are the main differences between a sole proprietorship Partnership LLC and corporation?
A sole proprietorship is where the single owner operates the business. A partnership is similar, however, it is owned by two or more individuals. A corporation is a legal entity separate from the owners of the business.
Which best describes the difference between preferred and common stocks?
The main difference between preferred and common stock is that preferred stock gives no voting rights to shareholders while common stock does. Preferred shareholders have priority over a company’s income, meaning they are paid dividends before common shareholders.
What are the responsibilities of business towards government?
The responsibility of business towards the government are as follows :
- To set up business as per guidelines issued by the government.
- To ensure regularity and honesty in the payment of fees, duties and taxes.
- To follow pollution control norms set up by the government.
What are the responsibilities of business towards investors and government?
The responsibilities of business towards shareholders (investors) and creditors are as follows : To ensure safety of investment. To provide a fair and regular dividend or interest. Growth of the business should be planned.
What are 4 major purposes of government?
All governments have the purposes of establishing laws, providing order and security, protecting their people from external threats, and providing for the general welfare.