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Sole proprietorships, partnerships, or corporations

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For the first part of this project, introduce yourself and share your educational and future career plans.
Legally, businesses can be organized as sole proprietorships, partnerships, or corporations. In your own words, briefly describe each of these legal entities. Then, pick one and explain the advantages and disadvantages of using this form of business organization.

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Solution Summary

This solution explains the differences between sole proprietorships, partnerships, or corporations

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Sole proprietorship is an unincorporated business that is owned by a single person.

Partnership is also unincorporated business that is owned by two or more people.

Corporation is a company that has a legal status independent of its owners. The advantage of the corporation is that in ...

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