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Author Question: Discuss the similarities and differences among a sole proprietorship, partnership, and corporation ... (Read 55 times)

armygirl

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on: Jul 21, 2018

Discuss the similarities and differences among a sole proprietorship, partnership,
  and corporation


 
  What will be an ideal response?

Question 2

Describe the procedure for taping flowers. Why is this done?
 
  What will be an ideal response?


tandmlomax84

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Reply #1 on: Jul 21, 2018
Answer to Question 1

The sole proprietor puts up the capital, hires and directs all employees, reaps all profits,
absorbs all losses, and is personally and totally responsible for all debts. There is no
separation between the sole proprietor's personal finances and those of the business. A
partnership is a business engaged in by two or more persons who have signed an
agreement. Usually, each partner contributes the same amounts of capital and divides
the work equally. They each draw the same weekly salary, and at the end of the year
they divide the profits equally. Both partners become liable for the actions of either
partner. Finally, a corporation is the most public method of doing business and more
governed by state and federal laws than are sole proprietorships or partnerships. The
corporation is a legal entity, separate from its owner and managers. The profits of the
corporation are taxed independently of the incomes of the company's owners. The
liabilities of the corporation are also legally separate from the personal debts of its
owners. A corporation can file or be the defendant in a lawsuit without affecting the
personal finances of the owners.



Answer to Question 2

Taping flowers with special florist tape is done to cover all exposed florist wire, stems,
and calyxes in a corsage. The tape is applied to the stem by holding the wired flower
between the thumb and fore-finger of one hand and applying the tape to the stem by
twisting the wired flower with the other hand, pulling the tape tightly around the stem.
This will create a stickiness, causing the tape to adhere to the stem as the wired floret is
wrapped. The tape should be applied evenly, covering all wire and exposed stem. The
excess wire on the stem should be left for the time being, as it will be helpful when the
construction process begins.



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