Mie 201 exam 2 Study guides, Class notes & Summaries

MIE 201 Exam 2 Chapters 4, 5, 8 Makanui NCSU 3 types of business ownership - correct answer - sole proprietorship - partnership - corporation sole proprietorships - correct answer - businesses owned by one individual - the most common form of business organization in the United States - easiest and least expensive form of business to start - ex: tutoring/bookkeeping/landscaping etc... sole proprietorship advantages - correct answer - simplicity - single layer of taxation - taxed at ...

mie 201 exam 2 with correct answers

3 types of business ownership : - sole propreitorship - partnership - corporation sole proprietorships : - businesses owned by one individual - the most common form of business organization in the United States - easiest and least expensive form of business to start - ex: tutoring/bookkeeping/landscaping etc... sole proprietorship advantages : - simplicity 2 - single layer of taxation - taxed at individual rates - privacy - flexibility and control - personal satisfaction - fewer ...

MIE 201 Exam 2 Chapters 4, 5, 8Chapter 4 - correct answer Sole Proprietorship - correct answer - One owner - Individual income taxed - Unlimited liability - Owned by a single individual and is the easiest way to conduct business Advantages of Sole Proprietorship - correct answer - ease and cost of formation - secrecy - distribution and use of profits - flexibility and control of the business - most freedom from government regulation - taxation: taxed at individual income tax rat...

MIE 201 Exam 2: Chapters 4, 5, 8 Makanui NCSU3 types of business ownership - correct answer - sole proprietorship - partnership - corporation sole proprietorships - correct answer - businesses owned by one individual - the most common form of business organization in the United States - easiest and least expensive form of business to start - ex: tutoring/bookkeeping/landscaping etc... sole proprietorship advantages - correct answer - simplicity - single layer of taxation - taxed at i...

mie 201 exam 2Advantages of operating a Sole Proprietorship? - correct answer simplicity (easy to establish and less paperwork-only requirement is business licenses and permit) single layer of taxation!!! privacy (not required to report anything to anyone) flexibility and control fewer limitations on personal income Personal satisfaction (take your own risks and enjoy the reward) Disadvantages of sole proprietorship - correct answer financial liability (unlimited liability) d...

MIE 201 Exam 2 with correct Answers

Advantages of operating a Sole Proprietorship? - ANSWERSsimplicity (easy to establish and less paperwork-only requirement is business licenses and permit) single layer of taxation!!! privacy (not required to report anything to anyone) flexibility and control fewer limitations on personal income Personal satisfaction (take your own risks and enjoy the reward) Disadvantages of sole proprietorship - ANSWERSfinancial liability (unlimited liability) demands of the owner (alot more...

MIE 201 Exam 2Sole proprietorships - correct answer businesses owned and operated by one individual, are the most common form of business organization in the United States. Common examples include many retailers such as restaurants, hair salons, flower shops, dog kennels, and independent grocery stores. sole proprietorship - correct answer All profits from a _________ belong exclusively to the owner. He or she does not have to share them with any partners or stockholders. The owner decides ho...

MIE 201 Exam 2 Chapters 4, 5, 8 Questions and Answers