Features
What are the features of Sole Proprietorship.
•This is a business run by one individual for his or her own benefit.
•The liabilities associated with the business are the personal liabilities of the owner.
•The business terminates upon the proprietor's death.
What are the abbreviations of the four (4) types of businesses in accounting
SL
LLP
LP
Co
What are two the advantages of a Company
Shareholders are protect for liability
Easy access to capital
Business continue after any shareholder dies
Has many shareholders
What is the mnemonics for the four types of businesses
Sole Lim-Lia limp com
Who hires and oversees the senior management of a company.
The board hires and oversees the senior management