Evaluate the different types of business entities

1. For this quiestionnaire, reflect on and address the following items. Consider presenting the information from this section in a table.

a. Describe the basic features of sole proprietorships, partnerships, corporations, and LLCs.

b. Explain what you think is the most important feature of each business entity.

c. Compare the advantages and disadvantages of each type of business entity.

2. Starting a new business involves many considerations and decisions. Please answer the following questions in a paragraph for each:

a. What are the potential risks of starting a new business? State 3-5

b. What questions should you ask to determine how the business should be formed?

c. How do the number of owners influence how the business should be formed?

d. How do financial considerations influence the decision for how the business should be formed?