This power point presentation used during my report on FABM1

2. Sole Proprietorship
Partnership
Corporation

3.  Sole Proprietorship
The default option is to be a sole proprietor. With this
option there are fewer forms to file than with other
business organizations. The business is structured in such
a manner that legal documents are not required to
determine how profit-sharing from business operations
will be allocated.
This structure is acceptable if you are the business's sole
owner and you do not need to distinguish the business
from yourself. Being a sole proprietor does not preclude
you from using a business name that is different from your
own name, however. In a sole proprietorship all profits,
losses, assets and liabilities are the direct and sole
responsibility of the owner. Also, the sole proprietor will
pay self- employment tax on his or her income.

4.  A partnership is a business owned by two or
more persons who contribute resources into
the entity. The partners divide the profits of
the business among themselves.
 In general partnerships, all partners have
unlimited liability. In limited partnerships,
creditors cannot go after the personal assets
of the limited partners.

5.  A corporation is a business organization that
has a separate legal personality from its
owners. Ownership in a stock corporation is
represented by shares of stock.
 The owners (stockholders) enjoy limited
liability but have limited involvement in the
company's operations. The board of
directors, an elected group from the
stockholders, controls the activities of the
corporation.