Consider each of the following four forms of business
Consider each of the following four forms of business organizations: sole proprietorship, partnership, limited liability Company, and S corporation.
Discuss only these four forms. When discussion partnerships, distinguish between "Limited Partnerships" and "General Partnerships" and discuss how liability and capital investment works in those two different types of partnerships. Develop a scenario for each of these for a business where it would be the appropriate form of business organization. For each scenario, explain the type of business and what its product or service would consist of. For each type of business, explain the benefits/disadvantages of taxation on the business managers, owners, and investors; the liability for contracts entered into by the business, and torts committed by employees, the complexity of the reporting requirements, and the ability to bring in more investors or wind-down/dissolve the business.
