Fashion Merchandising- 4.01 part 3 Review

Best for people that like to work alone

• Sole proprietorship

• Partnership

• Corporation

Responsibilities are shared

• Sole proprietorship

• Partnership

• Corporation

Complex and expensive to form and dissolve

• Sole proprietorship

• Partnership

• Corporation

Easy to transfer ownership/ leave the company

• Sole proprietorship

• Partnership

• Corporation

Hardest type to make big profits from

• Sole proprietorship

• Partnership

• Corporation

Unlimited personal liability for business debts

• Sole proprietorship

• Partnership

• Corporation

Easiest to form and dissolve

• Sole proprietorship

• Partnership

• Corporation

Heavy taxation

• Sole proprietorship

• Partnership

• Corporation

Deon works for a company that is complex, expensive to form, and heavily taxed. Which type of business organization does this describe?

• Corporation
• Partnership
• Sole proprietorship
• Nonprofit

Ashley prefers to work alone and enjoys the prestige and feeling of accomplishment that comes with owning a hair salon. Which type of business organization does this describe?

• Corporation
• Partnership
• Sole proprietorship
• Nonprofit