Question

REQUIRED: Indicate the best or most suitable form(s) of business ownership to use to conduct the following businesses. Also, indicate your rationale for your selection. In this assignment, you are limited to a choice between a proprietorship, a partnership, a corporation, either a proprietorship or a partnership or any of the above. Remember, if there is a high degree of danger in a business or industry (high probability of accidents, loss of money, etc.), please select a form of ownership that requires limited liability.

Hint for Critical Thinking:

Example: To operate a beauty shop

Answer

a proprietorship

a partnership

a corporation

either a proprietorship or a partnership

any of the above

I have a partnership. But the quiz says best or most suitable form(s) and to select the best answer. This type of business doesn’t have the problem of massive legal liability, so it does not have to be just a corporation—but it could be. A proprietorship would work. So the best answer is “any of the above.”

Make sure you have a brief explanation for each question

6. To purchase and develop raw land into subdivisions.

Form:

Rational :

7. To operate a beauty shop.

Form:

Rationale:

8. To operate a retail sports store.

Form:

Rationale:

9. To provide lawn care services.

Form:

Rationale:

10. To manufacture medical devices.

Form:

Rationale:

Answer 1