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Assignment B Part A: Discuss the types of business entities that exist. Discuss the advantages and disadvantages of each. For this part of the assignment I will be looking at four different types of business entities. The four types of these business organisations are: a) Sole trader b) Partnership c) Limited liability or (joint stock) company d) Unincorporated associations. Sole Trader businesses In this form of business organisation one person provides all the permanent finances and, in return, retains full control of their business and enjoys all the profits made by the business. The sole proprietor is likely or will eventually employ others as wage earners, but the distinctive feature is that there is a single owner of the business. There are no legal formalities involved in setting up in business as a sole trader. However, under the business names act 1985 the owner must confirm the three basic requirements: a) The name of the owner must be displayed...

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