ACC 206 Week 1 Discussion 2

ACC 206 Week 1 Discussion 2 | Assignment Help | Ashford University 

Week 1 - Discussion 2

Forms of Business

Prior to beginning work on this discussion, read Chapter 12 in the textbook.

In addition, the following MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional).

·         Chapter 12 LO2 Try It 

·         Chapter 12 LO3 Try It 

·         Chapter 12 LO4 Try It 

·         Chapter 12 LO5 Try It 

·         Chapter 12 LO6 Try It 

Write: Make sure your response addressing the questions below is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate.

There are many forms of businesses, such as a sole proprietorship, partnerships, corporations, and limited liability corporations. Partnerships are formed to pool together talent and individuals’ money. Partnerships have many tax benefits, including the partnership not being taxed; the net income flows directly to the partner’s individual tax return.

·         What are the characteristics of a partnership?

·         What types of partnerships are there?

·         How are partnership profits allocated and taxed?

·         Why are partnerships different than a limited liability company or an S corporation?

Guided Response: Respond to at least two of your classmates by commenting on their posts. Though two replies are the basic expectation for class discussions, for deeper engagement and learning you are encouraged to provide responses to any comments or questions others have given to you. Continuing to engage with peers and the instructor will further the conversation and provide you with opportunities to demonstrate your content expertise, critical thinking, and real-world experiences with the discussion topics.