About three-quarters of all businesses in the United States are sole proprietorships, and they earn somewhere around 10 percent of total business income. We may conclude that
there are many sole proprietorships, but their average income is small.
All of the following are advantages of a corporation except
lower frequency of taxation.
An important advantage of a corporation is its
Anand has been asked to join a new partnership that is developing wind energy technologies. Because the business is high risk, he does not want to be liable for the firm's debts if the project should fail. He could still participate as a