Sole proprietorship
How many people does a sole proprietorship involve?
1 Person
How many types of partnerships are there?
There are 3 types of partnerships
What’s the difference between a corporation and a sole proprietorship?
A corporation= entity; legal identity
How many types of corporate mergers exist?
There are 3 types
Give an example of sole proprietorship
Barbershop, Salon, Convenience store
What is the most common type of partnership?
A general partnership
How many types of corporations are there?
There are 2
True or Fakse: Rockefeller owned a horizontal merger
True
What does owners still have to pay in a sole proprietorship?
They pay all debts, taxes, and obligations
What does a limited partnership need to work?
It needs at least one general partnership, and the other partner controls money.
Name an advantage for stockholders
They have limited liabilities
What’s a benefit of a vertical merger?
Don’t rely on outside suppliers
What can’t a sole proprietorship do, that a large corporation can do?
The can’t offer the same beneits.
What is the main rule to follow in a uniform partnership?
Follow the agreement!
What’s the disadvantages for original owners in a corporation?
They lose control of their company
Why does the government approve of conglomerates?
Because they sell unrelated goods and services, so it’s not a monopoly.