Understanding Different Types and Sizes of Businesses

Conducting market research and developing a business plan (correct)

Filing paperwork to register the organization

Choosing a physical location and designing a website

Building up target market through traditional marketing means

Having a business name does not separate the business entity from the owner, making the owner responsible for debts incurred by the business (correct)

Having a business name limits the liability of the owner to debts incurred by the business

Having a business name has no impact on the owner's liability

Having a business name completely separates the business entity from the owner, absolving the owner of any liabilities

Corporates are exempt from taxation while businesses are not

Businesses are taxed at a higher rate compared to corporates

The taxation system for businesses and corporates is identical

The taxation system for businesses is different from that of corporates, implying different tax rates and regulations (correct)

<p>Building up target market through traditional marketing means or creative ways like social media</p> Signup and view all the answers

<p>The owner of the business is responsible and liable for debts incurred by the business, allowing creditors to go after personal possessions</p> Signup and view all the answers