BUSINESS SCHOOL Types of proprietorship

TYPES OF PROPRIETORSHIP MONEY I work all night, I work all day, to pay the bills I have to pay Ain't it sad And still there never seems to be a single penny left for me That's too bad In my dreams I have a plan If I got me a wealthy man I wouldn't have to work at all, I'd fool around and have a ball... Money, money, money Must be funny In the rich man's world Money, money, money Always sunny In the rich man's world Aha-ahaaa All the things I could do If I had a little money It's a rich man's world

TYPES OF PROPRIETORSHIP MONEY A man like that is hard to find but I can't get him off my mind Ain't it sad And if he happens to be free I bet he wouldn't fancy me That's too bad So I must leave, I'll have to go To Las Vegas or Monaco And win a fortune in a game, my life will never be the same... Money, money, money Must be funny In the rich man's world Money, money, money Always sunny In the rich man's world Aha-ahaaa All the things I could do If I had a little money It's a rich man's world

SOLE PROPRIETORSHIP Businesssoleproprietorshippartnershipcorporationunlimitedliabilitythegreatestvolumeofbusiness thegreatestvolumeofbusinessownbusinessresponsibilitysoleproprietorshiptaxbenefitsaccountant soleproprietorshippartnershipcorporationaccountbusinessreceiptsserviceindustriesrestaurantsshop

SOLE PROPRIETORSHIP Sole proprietorship Kind shops sole proprietorship businesses volume service common A business may be privately owned in three different forms. These forms are the 1 …, the partnership and the corporation. The sole proprietorship is the most 2 … in many western countries. For example, more than 80 per cent of all 3 … in the United States are sole proprietorships. But it is evident that sole proprietorships do not do the greatest 4 … of business. They account for only 16 percent of all business 5 … receipts, for example, in America. What 6 … of business is likely to be a sole proprietorship? First of all, 7 … industries such as Laundromats, beauty shops, different repair 8 …, restaurants.

SOLE PROPRIETORSHIP

PARTNERSHIP Partnershipassociationtocarryonabusinessforprofitownersunlimitedliabilitygeneralpartnersdebts partnerslimitedliabilitysilentpublicmembermanagementsecretbusinessformprofessionalfieldslaw Limitedpartnershipownershipadvantagescapitalmanagementtaxbenefitsgovernmentdisadvantages

PARTNERSHIP

PARTNERSHIP Partnerships. secret association professional limited advantages profit liability disadvantages partners silent A Partnership is an 1 … of two or more persons to carry on a business for 2 …. When the owners of the Partnership have unlimited 3 … they are called general 4 …. If partners have limited liability they are 5 … partners. There may be a 6 … partner as well-a person who is known to the public as a member of the firm but without authority in management. The reverse of the silent partner is the 7 … partner – a person who takes part in management but who is not know to the public. Any business may have the form of the partnership, for example, in such 8 … fields as medicine, law, accounting, insurance and stockbrokerage. Partnerships have 9 ….Like sole proprietorships they are easy to form and often get tax benefits from the government. Partnerships have certain 10 … too. One is unlimited liability. It means that each partner is responsible for all debts and is legally responsible for the whole business. Another disadvantage is that partners may disagree with each other.

CORPORATION Corporationestablishnonprofitissuestockcertificatefinancialresourcesreinvesthighsalariesattract businesscorporationinstitutionpurposeprofitsharesownershipstockcertificatesstockholderform issueownershipattractfinancialresourcescorporationlargeamountofcapitalinvestadvantagesalaries

CORPORATION e

CORPORATION Corporations. a stock-holder financial nonprofit privately institution advantages individuals profit capital governmental stock certificates salaries A business corporation is an 1 … established for the purpose of making 2…. It is operated by 3 …. Their shares of ownership are represented by 4 …. A person who owns a stock certificate is called 5 …. There are several 6 …. of the corporate form of ownership. The first is the ability to attract 7 … resources. The next advantage is the corporation attracts a large amount of 8 … it can invest it in plants, equipment and research. And the third advantage is that a corporation can offer higher 9 … and thus attract talented managers and specialists. The 10 … owned business corporation is one type of corporation. There are some other types too. Educational, religious, charitable institutions can also incorporate. Usually such corporation does not issue stock and is 11 …. If there is a profit it is reinvested in the institution rather than distributed to private stockholders. In some western countries, cities, states, federal government and special agencies can establish 12 … corporations. A few examples of these corporations are state universities, state hospitals and city owned utilities.

TYPES OF PROPRIETORSHIP