Chapter 11: Legal Concerns

Short Answer

1.

Most small businesses start out as a sole proprietorship. What are the advantages and disadvantages of this form of ownership?

2.

What is a corporation? What are the major advantages and disadvantages of incorporating?

3.

What is the purpose of a NUANS report?

4.

Briefly explain the meaning and purpose of a business number (BN).

5.

What is bankruptcy?