COB 218 Study Guide - Quiz Guide: Board Of Directors, Fiduciary, Aspet
Document Summary
Entrepreneur: one who initiates and assumes the financial risks of a new enterprise and undertakes. One of the first decisions is which form of business organization will be most appropriate for the. Chapter 11 to provide or control its management. new endeavor. There are three major forms that entrepreneurs use to structure their business enterprises. Sole proprietorship: the simplest form of business, in which the owner is the business. They can own and manage any type of business, ranging from an informal, home-office or. The proprietor owns the entire business and has a right to receive all of the profits (because. Do not need to file any documents with the government. Allows more flexibility than does a partnership or a corporation. Free to make any decision she or he wishes concerning the business. The proprietor can sell or transfer all or part of the business to another party at any time.
