how many type of business ?
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Answer:
The IRS recognizes five types of businesses: sole proprietorship, partnership, corporation, S corporation and limited liability company or LLC. Many small businesses go the sole proprietorship route. Its name says it all: One person is in charge and accepts all responsibilities, debts, losses and obligations.
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Answer:
THERE ARE THREE MAJOR TYPE OF BUSINESS
Explanation:
- Service business:is the type of business which provide intangible product.E.g of service business is schools,salons etc
- Merchandising business:is the type of business buys product at wholesale price and sells the same at retail price.E.g of these business grocery store,distributors etc
- manufacturing business:is the type of business which raw material used to produce other quality product.E.g of these business is industries etc
- Hybrid business:are companies that may be classified in more than one type of business.E.g a restaurant
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