What is business?
Introduction Any regular and legal activity for the sake of earning profit is known as business. The business may be selling of product or providing different types of services. Majorly we diving business into 1 sole-properitership 2 partnership 3 corporation Sole-properitership A sole proprietor is someone who owns an unincorporated business by himself or herself. However, if you are the sole member of a domestic limited liability company (LLC), you are not a sole proprietor if you elect to treat the LLC as a corporation. Partnership A partnership is the relationship between two or more people to do trade or business. Each person contributes money, property, labor or skill, and shares in the profits and losses of the business. corporation In forming a corporation, prospective shareholders exchange money, property, or both, for the corporation's capital stock. A corporation generally takes the same deductions as a sole proprietorship to figure its...