Indicate whether each of the following business entities is more likely to be established as a sole proprietorship (SP), partnership (P), or corporation (C) Provide reasons for your choice a A small legal practice set up by two recent law school graduates b A restaurant with six locations in southe...

a A small legal practice is likely to be a partnership The earnings of the organization will depend ...

Indicate whether each of the following business entities is more likely to be established as a sole

Question:

Indicate whether each of the following business entities is more likely to be established as a sole proprietorship (SP), (P), or (C). Provide reasons for your choice.
a. A small legal practice set up by two recent law school graduates
b. A restaurant with six locations in southern Alberta
c. A second-hand outdoor equipment store owned by Rose Johnston
d. A mining company operating in Quebec
e. A hairdressing salon operated by three stylists
f. An independent house-painting business owned and operated by one person Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...