SOLUTION: BUS 372 Lynn University Common Type of Business Entity Analysis Questions
Running Head: BUSINESS ENTITIES
Name of student
1. A uncombined proprietorship is a profession that is owned and run by one individual. It is the simplest
and most despicable form of profession life (Galak & Romashko, 2017).
Control - Though manifold lifes can accept-effect a uncombined proprietorship, it can singly accept one
owner. Uncombined proprietorships accept manifold advantages, such as they are lenient to settle, and the
owners of the profession life accept generous guide of the income earned by the profession. They,
however, as-well countenance disadvantages, the most speaking life that the proprietor is held as individualally
liable for any losses and liabilities incurred by the profession. Uncombined proprietorships are lenient to form
because they demand the proprietor to content out minimal forms. This as-well makes them lenient to maintain
and dismember (Chiappinelli, 2018).
Unlimited amenability- the proprietor countenances infinite amenability for the debts of the profession life. In
case the profession does not accept ample funds to pay its debts, creditors accept the equitable to recover
their dues through the proprietor's individualal possessions (Galak & Romashko, 2017).
Personal organization- A uncombined proprietorship is not a unconnected constitutional life from its proprietor. The
proprietor of the profession owns what the profession owns and owes what ...
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