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Pros & Cons of Business Ownership: Focus on Financial Management Decisions & Goals, Quizzes of Financial Management

University of Georgia (UGA)Financial Management

Definitions and explanations of the advantages and disadvantages of different business ownership structures, including sole proprietorship, partnership, and corporate ownership. It covers topics such as taxation, liability, capital availability, and financial management decisions. The document also touches upon the goals of financial management and the sarbanes-oxley act.

Typology: Quizzes

2013/2014

Uploaded on 02/10/2014

poochi33 🇺🇸

4.5

(2)

12 documents

1 / 2

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Partial preview of the text

Download Pros & Cons of Business Ownership: Focus on Financial Management Decisions & Goals and more Quizzes Financial Management in PDF only on Docsity! TERM 1 Advantages (sole proprietorship) DEFINITION 1 easiest to startleast regulatedsingle owner keeps all the profitstaxed once as personal income TERM 2 Disadvantages (sole proprietorship) DEFINITION 2 limited to life of ownerequity capital limited to owner's personal wealthunlimited liabilitydifficulty to sell ownership interest TERM 3 Advantages (partnership) DEFINITION 3 two or more ownersmore capital availablerelatively easy to startincome taxed once as personal income TERM 4 Disadvantages (partnership) DEFINITION 4 unlimited liability - general and limited partnershippartnerhsip dissolves when one partner dies or wishes to selldifficult to transfer ownership TERM 5 Advantages (corporate ownership) DEFINITION 5 limited liabilityunlimited lifeseparation of ownership and managementtransfer of ownership is easyeasier to raise capital

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