Vic and Ruthann are starting Victory Signs which will manufacture signs. If their primary objective is...
Vic and Ruthann are starting Victory Signs which will manufacture signs. If their primary objective is to ensure that they will be able to easily transfer ownership of Victory, which form should the choose?
sole proprietorship.
general partnership.
close corporation.
corporation.
Please explain why you made the choice. Please do not just give me answers
Homework Answers
Option D.
- Given that Vic and Ruthann are starting a business named as Victory Signs which manufactures Signs and if they want to engage in a legal ownership of a business which allows them to easily transfer ownership of Victory, they should choose corporation.
- A corporation is a form of legal ownership in which the business entities are Legally seperated and no entity is responsible for the debts and damages incurred in the business caused by an another entity.
- It allows an easy and convenient transfer of ownership as each entity involved can transfer Or sell its shares to another entity without any interference from the other entities involved.
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