Types of business entity

Accounting, Financial Accounting, Uncategorized 31 October 2022 3:06 pm

Table of Contents

:Types of business entity

:A business can be operated in one of several ways

.this is the simplest form of business is owned and operated by one individal, although it might employ any number of people

.with this form of entity there is no legal distinction between the owner and the business

.To this end the owner recceives all the profits of the business but has unlimited liability for all the losses and debts of the business