One advantage of a partnership is owners can combine their business skills to help the business succeed.

A Sole Proprietorship has to pay more money in taxes than a Corporation.

A Partnership is easier to raise money than a Sole Proprietorship.

If a business owner wants complete control over their business, they should start a corporation.

A business that is owned and managed by two or more individuals who receive all the profits and share responsibility for the losses.

A Business Plan will include:

The main difference between a sole proprietorship and a partnership is a partnership has more than one owner.

A written document that describes an idea for a product or service and how it will make money!

A Partnership is easier to raise money than a Sole Proprietorship.

Sole Proprietorships are the most common type of business in the United States.

A Sole Proprietorship has to pay more money in taxes than a Corporation!

Corporations mostly have a limited life span!

A business that is owned and managed by one individual who receives all the profits, but is responsible for all the losses.

A business that is owned by stockholders and has rights and responsibilities as if it were a person.

Virtually all businesses in the United States are large corporations.

The simplest form of business ownership is a:

An advantage of a corporation is that they have to pay corporate income taxes.

A sole proprietorship is a business where all of the following are true EXCEPT

All of the following are characteristics of corporations EXCEPT

All of the following are characteristics of partnerships EXCEPT

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