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a sole proprietorship is a single owner of a business who has no other employees and does all work by him/herself. many home based businesses fall into this category. a partnership is a 2 or more people who have combined money and resources to work together and then take the profit and loss on an individual tax return. This also falls into a home based business with a neighbor or a family member joining forces. a corporation is a separate entity from the people that actually work within it. if a company that is labeled a corporation gets sued, the people within it cannot lose any belongings that belong to them unless they are sued separately for example. Banks and other larger companies that employ several people for the protection of the employees will incorporate. full service stores seems more geared towards gas stations who offer a guy who'll come out and pump your gas for you. limited service is a store that will post what is offered and done by a paid employee for the customer and limited in the services provided self service is the customer does the work and still has to pay for it general and convenience stores offer a multitude of items without any one of them being the most important. Gas stations come to mind again or the local drug store that offers your prescriptions, newspapers, school supplies, etc. the specialty store would be one that offers only items related to specific topics of interest. Bass Pro relates to camping and outdoor sports equipment. The Sports Authority offers sporting equipment and clothing related to physical sports like football, baseball and basketball. or for the females you have Claire's boutique which offers clothing accessories and ear piercings etc. Hope this helps

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I am studying to be a tax pro and am near acing the course. Good luck

by T

1 month ago

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