PA 130 - Business Structures

Credit Hours: 3

The three business entities, i.e. sole proprietorship, partnership (general and limited) and corporations (professional and not-for-profit), are generally explained, differentiated and viewed from both a business and legal perspective. Special emphasis is given to the formation and dissolution of each structure as the agency law and tax law ramifications of each form.

Course Outcomes
Upon completion of this course, the student will be able to:

compare and contrast the similarities and differences between sole proprietorships, partnerships, limited liability companies and corporations;
understand the legal requirements in starting and managing each form of business;
understand how each form of business operates; and
determine which form of business is more advantageous to use under certain circumstances.

F/S (C, N)