1. work with a partner to sort these examples into sole proprietorship, partnership, or corporation: • small…

1. work with a partner to sort these examples into sole proprietorship, partnership, or corporation: • small coffee shop • two friends running a lawn care service • nike • local doctor’s office write your answers below: 1. ______________ 2. ______________ 3. ______________ 4. ______________ independent practice imagine you are starting a business. write: • the name of your business • what you sell or do • why you chose this type of business • one advantage and one disadvantage of your choice write your response below. exit ticket answer the following questions before leaving: submit assignment osceola.instructure.com

1. work with a partner to sort these examples into sole proprietorship, partnership, or corporation: • small coffee shop • two friends running a lawn care service • nike • local doctor’s office write your answers below: 1. ______________ 2. ______________ 3. ______________ 4. ______________ independent practice imagine you are starting a business. write: • the name of your business • what you sell or do • why you chose this type of business • one advantage and one disadvantage of your choice write your response below. exit ticket answer the following questions before leaving: submit assignment osceola.instructure.com

Answer

Brief Explanations:

A sole - proprietorship is owned by one person. A partnership is owned by two or more people. A corporation is a legal entity separate from its owners. A small coffee shop is often a sole - proprietorship as it is usually run by one person. Two friends running a lawn care service is a partnership. Nike is a well - known corporation. A local doctor's office can be a sole - proprietorship if run by one doctor. For the independent practice part, an example response could be given based on understanding of business types.

Answer:

  1. Sole Proprietorship
  2. Partnership
  3. Corporation
  4. Sole Proprietorship

Independent Practice example: Business name: "Sunny Bakeshop" What I sell or do: I sell a variety of baked goods like cakes, cookies, and bread. Why I chose this type of business: I chose a sole - proprietorship because I have a passion for baking and want to have full control over the business operations. Advantage: I get to keep all the profits. Disadvantage: I have unlimited personal liability for business debts.