Topic: Distinguish between the various types of business entities

Topic: Distinguish between the various types of business entities

Topic: Distinguish between the various types of business entities

 

Purpose of Assignment: The purpose of this assignment is to understand the various entity types for businesses.

Course Competency: Distinguish between the various types of business entities.

Instructions:

Content:

Your client, Arthur Krupke, is back. He has approached your supervising attorney about his business, Krupke’s Consultants, and is ready to move forward with his business. The client will be hiring management consultants as employees to go into other businesses and advise them on how they can improve their operations. Arthur has been doing some of his own research about entity types, but would like assistance in forming his business. Arthur is concerned about his investment and his own personal assets should the business fail. He is also still worried about liability he may face for the actions of others. Arthur detests having decisions made for him. He likes to be involved in all business decisions. He is considering opening the business with a couple of friends, but his friends have the same concerns as Arthur about liability and control over business decisions. Your supervising attorney has asked you to draft a memo detailing all the pros and cons of the following entity types for Arthur:

Sole Proprietorship

General Partnership

Limited Partnership

Limited Liability Company

In addition to explaining the pros and cons, you should make a recommendation of which entity would work best for Arthur’s concerns, and describe the process for forming the business as that entity.

Answer preview to distinguish between the various types of business entities.

Distinguish between the various types of business entities.

 

 

You must proofread your paper. But do not strictly rely on your computer’s spell-checker and grammar-checker; failure to do so indicates a lack of effort on your part and you can expect your grade to suffer accordingly. Papers with numerous misspelled words and grammatical mistakes will be penalized. Read over your paper – in silence and then aloud – before handing it in and make corrections as necessary. Often it is advantageous to have a friend proofread your paper for obvious errors. Handwritten corrections are preferable to uncorrected mistakes.

Use a standard 10 to 12 point (10 to 12 characters per inch) typeface. Smaller or compressed type and papers with small margins or single-spacing are hard to read. It is better to let your essay run over the recommended number of pages than to try to compress it into fewer pages.

Likewise, large type, large margins, large indentations, triple-spacing, increased leading (space between lines), increased kerning (space between letters), and any other such attempts at “padding” to increase the length of a paper are unacceptable, wasteful of trees, and will not fool your professor.

The paper must be neatly formatted, double-spaced with a one-inch margin on the top, bottom, and sides of each page. When submitting hard copy, be sure to use white paper and print out using dark ink. If it is hard to read your essay, it will also be hard to follow your argument.

You can hire someone to answer this question! Yes, essay96.com has paper writers dedicated to completing research and summaries, critical thinking tasks, essays, coursework, and other homework tasks. It's fast and safe.