Question

. Choose an example of a company you could start, and decide which business structure would make the most sense for that type of company (sole proprietorship, partnership, LLC, C corporation, S corporation, or nonprofit corporation). Explain why this structure would be good for this type of company. Give at least 3 reasons. (3-6 sentences. 6.0 points)

Answer 1

An example is; I would start a restaurant, and the business structure would be the most logical, as it would mean a sole proprietorship if I wanted to do it alone. This business structure would enable me to have full responsibility for the restaurant, and I would not need to rely on anyone else.

Step-by-step explanation:

Answer 2

An example of a company that I could start is a travel advisory business. The best business structure that would make the most sense is an S corporation. This is because it provides protection from personal liability. It will also allow me to report my share of loss and profits of the company in my tax filings.