What are the four primary business structures that determine - ProProfs Discuss
Advertisement

What are the four primary business structures that determine ownership of a business account?



This question is part of Test Your Knowledge - Business Accounts
Asked by Lolson, Last updated: Oct 23, 2020

+ Answer
Request
Question menu
Vote up Vote down

2 Answers

h. George

h. George

Government employee and a part-time content writer.

h. George
H. George, Copywriter, MA in English, California

Answered Apr 18, 2018

The primary business structures that determines the ownership of a business are as follows;
• Sole Proprietorships: A sole proprietor is someone who owns an unincorporated business by himself or herself.
• Partnerships: A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property, labor or skill, and expects to share in the profits and losses of the business.
• Corporation: In forming a corporation, prospective shareholders exchange money, property, or both, for the corporation's capital stock.
• Limited Liability Company (LLC): A Limited Liability Company (LLC) is a business structure allowed by state statute. Each state may use different regulations, and you should check with your state if you are interested in starting a Limited Liability Company.

upvote downvote
Reply 

lolson

lolson

lolson
Lolson

Answered Sep 05, 2017

Sole Proprietorship, Partnership, Limited Liability Corporation (LLC) and Corporation.
upvote downvote
Reply 

Advertisement
Advertisement
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader
Image Preview
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader
Image Preview
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader

Email Sent
We have sent an email to your address "" with instructions to reset your password.