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Comparison of three essential types of businesses in Australia: use the following criteria and organize your...

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Accounting

Comparison of three essential types of businesses in Australia:use the following criteria and organize your comparison in atable:

1) Owner/s of businesses

2) Level of difficulty in setting up the business

3) Life the business (limited or unlimited)

4) Liabilities of owners over the business’s debts

5) Legal status of business

6) Level of difficulty in mobilizing funds

7) Level of difficulty in business transfer.

Answer & Explanation Solved by verified expert
3.6 Ratings (426 Votes)
Comparison srNo Topic Partnership Sole Propritership Trusts 1 Owners of businesses Business to have more than one owner Business to have one owner This is where the business is transferred to a third party who has legal control to run the business and who distributes income andor capital between the relevant Beneficiaries 2 Level of difficulty in setting up the business Diffirent Management style Setting Boundaries Difficult to add or remove partner Commitment level Defficulties in Raising Capital unlimited liablities lack of expertise Raised capital The trust deed limits a trustees powers It may be difficult to borrow funds based on the intricacies of    See Answer
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