Types of Business Ownership

An individual who solely owns and operates a business.

(a)  

A group or association with 2-20 people who run a business together with the aim of making a profit.

(a)  

A business structure that has at least one shareholder and no more than 50 non-employee shareholders, where the liability of shareholders is limited to the value of shares.

(a)  

A tax-exempt organisation formed for religious, charitable, literary, artistic, scientific, or education purposes.

(a)  

A factor to consider is to minimise the (a)   burden.

A factor to consider is sharing the business (a)   .

A factor to consider is who is responsible for business debts, i.e. business (a)  

A factor to consider is the future prospects of the business, i.e. business (a)  

A factor to consider is the capital needed to start the business, i.e. ____ ____ ____

(a)  

Factors to consider can be remembered as TOLSS. What do these letters stand for?

T___

O___

L___

S___

S___

(a)