0
A business owner has full authority and liability for their business. This means they can make the final decision on all matters pertaining to their business. They also receive all profits (after paying things like taxes) and are responsible for paying all debts. This contrasts with a corporation, which is considered a separate entity from those who run it. A corporation can declare bankruptcy while its CEO remains wealthy; this does not happen with business owners.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
Why is owner of a business is interested in the activity of a business?
The activity of the business is what generates money for the business and the owner will want to maximize income.
What is another name for a small business owner?
Another name for a small business owner is "proprietor." In the US, if the owner is doing business as an LLC, he is a "member."
What is the business entity convention?
Business entity convention The convention that holds that, for accounting purposes, the business and its owner(s) are treated as quite separate and distinct. The business entity concept provides that the accounting for a business or organization be kept separate from the personal affairs of its owner, or from any other business or organization. This means that the owner of a business should not place any personal assets on the business balance sheet. The balance sheet of the business must reflect the financial position of the business alone. Also, when transactions of the business are recorded, any personal expenditures of the owner are charged to the owner and are not allowed to affect the operating results of the business. Business entity convention The convention that holds that, for accounting purposes, the business and its owner(s) are treated as quite separate and distinct. The business entity concept provides that the accounting for a business or organization be kept separate from the personal affairs of its owner, or from any other business or organization. This means that the owner of a business should not place any personal assets on the business balance sheet. The balance sheet of the business must reflect the financial position of the business alone. Also, when transactions of the business are recorded, any personal expenditures of the owner are charged to the owner and are not allowed to affect the operating results of the business.
Why would a business change their ownership?
Becuase they want to have a owner which can provide the business much better then the owner they have at this moment.
Why a business has a distinct identity from the owner?
because he is taking risk and any loss by the business will be suffer by the owner himself.
What do you call a woman who is the owner of a business?
a business owner
What is a name for a business owner?
Another name for a small business owner is "proprietor." In the US, if the owner is doing business as an LLC, he is a "member."
Why is owner of a business is interested in the activity of a business?
The activity of the business is what generates money for the business and the owner will want to maximize income.
Which make more money an WWE wrestler or a business owner?
Business owner
What is another name for a small business owner?
Another name for a small business owner is "proprietor." In the US, if the owner is doing business as an LLC, he is a "member."
How does a business owner and fear of business owners goes pari-passu?
Yes the business owner and fear of business owener goes on
If the demand of a product increases but the supply does not is it better for the consumer or the business owner?
For the business owner
What does the business owner need to be aware of crm?
business owner must be aware of the innovations
What could happen to a person found guilty of crime in the south after the thirteenth amendment become law?
Their labor could be sold to a business owner
How do you put your title on a business card if you are the business owner?
Proprietor Depending on the type you could try: Owner/Operator Owner/CEO
How can you get Windows 8 enterprise?
If you are a business owner you can get it by requesting a download from Microsoft. Note: (YOU HAVE TO BE A BUSINESS OWNER)
Why would understanding elasticity benefit a small business owner?
It tells the business owner what their demands will be.
