Asked by Stephani Bushur on Jul 25, 2024
Verified
Doris wants to form a new firm-eBeats-to market a new app. Fees are required to form all of the following business organizations except
A) a sole proprietorship.
B) a corporation.
C) a limited partnership.
D) a limited liability company.
Sole Proprietorship
A business structure where the business is owned and operated by a single individual who has personal responsibility for all debts and liabilities.
Corporation
A legal entity recognized by law as separate from its owners, with its own rights, privileges, and liabilities.
Limited Partnership
A form of partnership consisting of one or more general partners who have full liability and one or more limited partners whose liability is limited to the amount of their investment.
- Identify different business organizations and their formation requirements.
Verified Answer
Learning Objectives
- Identify different business organizations and their formation requirements.
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