Business Essentials (12th Edition) (What's New in Intro to Business)
12th Edition
ISBN: 9780134728391
Author: Ronald J. Ebert, Ricky W. Griffin
Publisher: PEARSON
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Question
Chapter 3, Problem 3.18TE
Summary Introduction
Given scenario:
It is given that Person X and his three friends would like to open a restaurant, in which Person X has 20 years of experience. Person X thought that he can make some good money if he offered good food. However, they did not have enough amount. They need at least $100,000 to survive until the business earns a profit.
To determine: The form of ownership for the new restaurant.
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Students have asked these similar questions
What are the different forms of ownership that a business can adopt, and what are the advantages and disadvantages of each form? Additionally, how can an organization select the most appropriate form of ownership for its specific needs and objectives, and what are some of the key factors that should be considered in making this decision?
If you were to open a small business, such as a local landscaping business, what
form of ownership would be most appropriate and why?
Provide rational for your choice.
If you are to create a company/business, what form of business will it be?
Chapter 3 Solutions
Business Essentials (12th Edition) (What's New in Intro to Business)
Ch. 3 - Prob. 3.1QRCh. 3 - Prob. 3.2QRCh. 3 - Prob. 3.3QRCh. 3 - Prob. 3.4QRCh. 3 - Prob. 3.5QACh. 3 - Prob. 3.6QACh. 3 - Prob. 3.7QACh. 3 - Prob. 3.8QACh. 3 - Prob. 3.9AECh. 3 - Prob. 3.10AE
Ch. 3 - Prob. 3.11ACh. 3 - Prob. 3.12ACh. 3 - Prob. 3.13ACh. 3 - Prob. 3.14ACh. 3 - Prob. 3.15ACh. 3 - Prob. 3.16TECh. 3 - Prob. 3.17TECh. 3 - Prob. 3.18TECh. 3 - Prob. 3.19EECh. 3 - Prob. 3.20EECh. 3 - Prob. 3.21EECh. 3 - Prob. 3.22CCh. 3 - Prob. 3.23CCh. 3 - Prob. 3.24CCh. 3 - Prob. 3.25CCh. 3 - Prob. 3.26CCh. 3 - Prob. 3.27CCh. 3 - Prob. 3.28CCh. 3 - Prob. 3.29CCh. 3 - Prob. 3.30C
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Similar questions
- What are the advantages and disadvantages of each form of business ownership?arrow_forwardIf you were to start a business, which ownership form would you choose? What factors might affect your choice?arrow_forwardWhat is a tightly owned company, and why do certain businesses opt for this ownership structure?arrow_forward
- Every organization is formed into an entity of some sort, and is usually done to protect individuals from liabilities connected with business operations. If you were starting your own business, which entity formation would you use--sole proprietorship, partnership, LLC, or corporation? Why? Which entity formation would you never use? Why?arrow_forwardWhat are the key considerations for entrepreneurs when choosing between different types of business ownership, such as sole proprietorship, partnership, and corporation, and how do these choices impact various aspects of management?arrow_forwardYou are about to venture a particular business, will you create a business plan first before implementing your business or would you prefer to immediately run the business?arrow_forward
- Compare and contrast the various types of business ownership and the advantages/disadvantages of each. TWO paragraphs.arrow_forwardIn your opinion, what are the main advantages and disadvantages of organizing a firm as a corporation? If you were starting a business, would you use this option and why?arrow_forwardWhat is the difference between a stakeholder and a stockholder? What type of stakeholder is a shareholder?arrow_forward
- Given is a doctor who is forming her own medical practice. She wants her practice to be flexible , simple to run , and free from required meetings , minutes or resolutions . Her goal is to blend the best characteristics of corporations , partnerships and sole proprietorships . What form of business ownership seems most in-line with Gwen’s goals ? A)C corporation B)cooperative C)joint venture D)limited liability company E)S corporationarrow_forwardWhat are the similarities and differences between joint ventures and syndicates? What are the differences between them?arrow_forwardWhat are the three basic forms of business ownership?arrow_forward
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