Organizational Structure of Single Entity Organizations
Not what you're looking for?
What are the advantages of an organization existing as a single entity?
Purchase this Solution
Solution Summary
This solution explains the main advantages of an organization existing as a single entity.
Solution Preview
Please refer to file response attached, which is also present below. I hope this helps and take care.
RESPONSE:
A single entity business is a business that is owned and managed as one entity. There may be other persons involved in the business, but they will be employees or agents of the owner. While the owner may delegate certain management or supervisory powers to employees or agents, the source of delegated authority must come from the owner. Non-profit organization also can be considered single entities
The entity types available to a single entity business include a sole proprietorship, an S corporation, a C corporation, and, in some states, a limited liability company. The advantages and disadvantages afforded a single entity business with each of these types are as follows:
Sole Proprietorship- The advantages of a sole proprietorship are:
(1) there are few, if any, organizational (start-up) expenses;
(2) for income tax purposes, the profits and losses of the business are those of the owner which means that business losses are deductible by the owner in the year the are incurred and the business profits are not taxed twice;
(3) the owner can organize and manage the business without statutory restriction; and
(4) the owner is not required to register the business with any public official, file any reports ...
Purchase this Solution
Free BrainMass Quizzes
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations
Writing Business Plans
This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
Lean your Process
This quiz will help you understand the basic concepts of Lean.
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.