11 May DEFINE SOLE PROPRIETORSHIP AND DESCRIBE THE LIABILITY OF A SOLE PROPRIETOR.
Each response must have a minimum of 150 words MUST have references for each response!
Quality work! No Plagiarism!
1. The law allows for a lot of different types of business entities with different protections, functions and features. Explain what type of business would be a good fit for a General Partnership and why?
2. There was some discussion in week one about Sarbanes-Oxley, and I’m certain that you’ve discussed this important piece of legislation in other classes. Why is the Sarbanes-Oxley Act necessary? What are some of the protections to investors does this act offer?
3. Define entrepreneurship and describe the types of businesses that an entrepreneur can use to operate a business.
4. Define sole proprietorship and describe the liability of a sole proprietor.
5. Define general partnership and describe how general partnerships are formed and operated.
6. Define limited partnership and describe how limited partnerships are formed and operated.
7. Explain the tort and contract liability of general and limited partners.
8. Describe the procedure for going public and how securities are registered with the Securities and Exchange Commission (SEC).
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