Tax preparation is more difficult in a sole proprietorship than in a corporation.

A corporation is a separate entity distinct from all the owners.

Your liability as a shareholder is only limited to the amount of your investment

A partnership may generate funds through selling shares of stocks.

A corporation may be owned by one person

Handling money for a sole proprietorship is easier than partnership.

Book stores and sari-sari stores fall under the service businesses category.

Manufacturing businesses include baked goods and cosmetics.

The sole proprietor can pass the business down to his/her heir.

A sole proprietorship needs higher start-up costs.

Partnership business lacks formality compared with managing a limited company or corporation

Profit is the difference between the amount received and the amount spent on something purchased, produced, or manufactured.

Merchandising businesses turn basic inputs into products which are sold to consumers.

In a sole proprietorship, the owner decides alone.