Describe the sole proprietorship form of doing business including advantages and disadvantages.

Week 3 Learning Objectives
After completing all the tasks in this week, students will be able to:
Prepare a preliminary outline of a major project after conducting preliminary quality research.
Describe the sole proprietorship form of doing business including advantages and disadvantages.
Describe the partnership form of doing business including its advantages and disadvantages.
Describe the limited liability company form of doing business including advantages and disadvantages.
Describe the corporation aka corporate form of doing business including its advantages and disadvantages.
Describe how a partnership is created.
Explain the liability of sole proprietors, partners, shareholders, and owners of a business for the debts of the business.
Define capital stock
Explain what dividends are and how they may be paid.
Explain how a corporation is managed including the duties of stockholders, directors, and officers.