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Partnership Business Case Study Discussion Essay
Partnership Business Case Study Discussion Essay
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Partnership Business Case Study Discussion Essay
For this milestone, you will discuss Case Study Three.
Identify the main types of business entities, and discuss the advantages and disadvantages of each. Your active participation in this discussion is essential to improving your understanding of the advantages and disadvantages of the various business entities. Actively engaging with your peers will help you complete the remaining critical elements for the final project.
I am waiting on my book so use this student’s example for the disc and info on the case study:
The first type of business that I will write about is a referred to as sole proprietorship.
A sole proprietorship is a business that is owned and ran solely by one person. A sole proprietorship had many benefits to it. All decisions e.g. management, hiring, business hours, and any change in business model. As a sole proprietor (SP) you also keep all the profits, thus your income from your business is taxed as a personal income.
On the other hand, there some major disadvantages. Liability wise, you are considered a sole entity and therefore can be personally sued.
Business can be hard to maintain, as a sole proprietor you are also solely liable for all debts accrued from your business and might have to use personal means to pay them off. Along with that, all start up costs fall directly onto the SP which can be difficult when just starting off.
The second type of business is a partnership, there are five different types of partnerships.
A partnership consists of two or more people who co-own a business for profit.
There are general partnerships, limited partnerships, limited liability partnerships, cooperatives, and joint ventures. Some of the benefits of a partnership, is that they are easy to create and generally do not require a formal or official agreement. Income is typically taxed as individual income and can deduct business losses from their income. Some disadvantages are that partners are personally liable for firm debts.
The third type of business is a corporation, which is a legal entity formed by selling shares of stock to investors who then become shareholders (owners of the company). The shareholders elect a board of directors, who then hire the officers to run the day to day business. Corporations are also considered separate legal entities. There are a lot of advantages the corporation can be held liable and sued , but shareholders can not. The income made as a shareholder is considered personal income and is taxed as such. There are also some major disadvantages though. There are a lot of formalities that have to be met when starting a corporations and corporate income is technically taxed twice.
Lastly, there are limited liability companies. A limited liability company is form of business that combines the tax advantage of a partnership and management flexibility of a partnership with the limited liability of a corporation. There are many benefits to this type of business. They are relatively easy to start with minimal paperwork, they are considered separate entities, they can choose between being taxed as an individual or taxed as a corporation, and each member is only liable for the worth of their investment capital.
In reference to this case study, with the given knowledge it seems that Jeb and Josh have entered into a partnership. Therefore both parties are liable for any debts acquired because of the accident. Since they have entered into a partnership v. starting a corporation both parties could be liable to pay from their personal funds. This could potentially be a heavy momentary loss for a business, given that they just started and due to the fact that Jeb has gone bankrupt at his other company. When looking at Jeb’s bankruptcy debts, the business could potentially be effected depending on how many other items Jeb owns that could be liquidated.
Partnership Business Case Study Discussion Essay
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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Partnership Business Case Study Discussion Essay
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