Archive for November 19th, 2007
What are the qualities of the "simpler" business organization - sole proprietorships and partnerships?
The sole proprietorship is a simple, informal structure that is inexpensive to form; it is usually owned by a single person or a marital community. The owner operates the business, is personally liable for all business debts, can freely transfer all or part of the business, and can report profit or loss on personal income [...]
