Question details

ACC 561 Wk 2 Individual
$ 10.00

Week Two: Apply Financial Information

Individual: Small-Business Idea Paper

Imagine the government has released funds for creating small businesses. You are interested in establishing a small business, and you must decide which of the four forms of business organization would best suit your unique product or service. Consider legal, tax, accounting, and other implications when selecting from the four business types.


Write a paper of no more than 1,250 words discussing your small-business idea. Include the following:


The advantages and disadvantages of the four different forms of business organization, which include the following:


Sole proprietorship



The different types of financial statements associated with each form of business organization

The following consequences associated with each form of business organization:


Tax implications

Legal implications

Accounting implications, such as SOX and FASB


An explanation of the unique product or service your small business provides

Your choice of business organization form for your new business

Your rationale for choosing this form of business organization


Format your paper consistent with APA guidelines.

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