A sole proprietorship is

the least common form of business ownership.

The profits of a sole

proprietorship are taxed twice.

The owners of a sole

proprietorship share profits as established by the partnership agreement.

The owner of a sole

proprietorship may be forced to sell his/her personal assets to pay company

debts.

The controller reports to

the president.

The vice president of

finance reports to the chairman of the board.

The chief operations officer reports to the vice president of production.

The treasurer reports to

the chief executive officer.

The chief executive officer

reports to the board of directors.

corporate income subject to

double taxation.

the total dividends paid to

stockholders over the lifetime of a firm.

the costs of any conflicts

of interest between stockholders and management.

the total interest paid to

creditors over the lifetime of the firm.

the costs that result from

default and bankruptcy of a firm.

corporate activism.

legal liability.

stockholders' liability.

the agency problem.

corporate breakdown.

minimize operational costs

and maximize firm efficiency.

maintain steady growth in

both sales and net earnings.

avoid financial distress.

maximize current dividends

per share of the existing stock.