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The Legal Form and Operation of your Business

The Legal Form and Operation of your Business

The Legal Form and Operation of your Business

In both your Reading and in the Learning Activity you have reviewed the legal forms of business entity. Depending on how your business is set up as a legal business entity affects the financial and long term success of your business.

Describe three types of business entities, and describe at least three stakeholders for each one. What are the stakeholders’ interests in each of these business entities? Do any of these stakeholder interests conflict with each other? If so, how?

 ………………………….Answer preview………………………..

There are three types of business entities, the sole proprietorship, partnership and corporation. We have stakeholders as being the “Individuals or groups who either can affect or are affected by the performance of the company” (Longenecker, 2014).

A sole proprietorship is a business entity that is solely owned. This owner bears unlimited liability where all profits are received and loses assumed. Debts can be recovered from the person property. We have this as the simplest and cheapest ways of starting an operation and the stakeholders here could include the owner, the immediate family and suppliers or debtors……………………………………………..

APA

210 words

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