BUS101: Introduction to Business

Upon successful completion of this unit, you will be able to:

• Describe the following legal forms of businesses:
• sole proprietorships
• partnerships
• corporations
• limited-liability corporations
• subchapter S corporations
• Evaluate the appropriateness of the different legal forms of business for various business contexts;
• Identify and describe the function of the major components of a business plan;
• Analyze the potential of a business to be profitable, when considering:
• legal form of business
• tax rates
• break-even analysis
• Analyze the impact of small business on the economy.