Bus 670 Wk 1 Assignment- Final Draft.docx

Incorporating a business is a decision that must be made to meet the needs of the owner.
Different business structures or entities provide different levels of protection. Some provide
more protection than others, for example, sole proprietorships provide no legal protection
against lawsuits. An owner can be held personally liable in any monetary suits against the
business. Although Corporations provide the most personal liability protection, they also come
with a more complex tax structure and paperwork when initially filing. While entrepreneurs may
struggle with decisions concerning business structures. LLC’s are more successful due to their
ability to be easily attainable within a reasonable time while providing tax benefits to the owner.
In this paper, I will compare and contrast various business entities and prove why LLC’s are a
top choice for a beginning entrepreneur.
Sole Proprietorship
A sole proprietorship is the simplest and oldest business entity to set up because there is no
formal permission needed from the government. An individual who wishes to go into business is
officially considered a sole proprietorship if the business is in their name and a separate bank
account is established (Milto, Bass & Vakil,2015). If the owner wishes to set up the business in
another name they may be required to register a DBA, “doing business as” with local or a
state
governing body. Sole proprietorships offer no legal protection from lawsuits. Owners can be
sued for their business and personal assets (Seaquist, 2012). Tinker’s Home Security Service
has no protection of personal assets.
General Partnerships
Partnerships are formed when two or more individuals come together to start a business. and
what is agreed upon in the partnership agreement (Seaquist, 2012). The advantage of
partnerships is their ability to share in the responsibility of the business and financial
responsibility. To establish a partnership, a partnership agreement can be drawn up specifying
the responsibilities of the owners and the division of assets. Like, sole proprietorships,

Assignment Rubric
Excellent Good Fair Poor
In 3–4 pages, address the following:

A description of how the assessment tool or diagnostic test you were assigned is used in healthcare.
o What is its purpose?
o How is it conducted?
o What information does it gather? Points Range: 30 (30%) – 35 (35%)
The response clearly, accurately, and with specific detail describes how the assessment tool or diagnostic test assigned is used in healthcare, including its purpose, how it is conducted, and what information it gathers. Points Range: 24 (24%) – 29 (29%)
The response accurately describes how the assessment tool or diagnostic test assigned is used in healthcare, including its purpose, how it is conducted, and what information it gathers. Points Range: 18 (18%) – 23 (23%)
The response vaguely and/or with some inaccuracy describes how the assessment tool or diagnostic test assigned is used in healthcare, including its purpose, how it is conducted, and what information it gathers. Points Range: 0 (0%) – 17 (17%)
The response is inaccurate or missing descriptions of how the assessment tool or diagnostic test assigned is used in healthcare, including its purpose, how it is conducted, and what information it gathers.
Based on your research, evaluate the test or the tool’s validity and reliability, and explain any issues with sensitivity, reliability, and predictive values. Points Range: 45 (45%) – 50 (50%)

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The response accurately and thoroughly evaluates the test or tool’s validity and reliability, and explains any issues with clear sensitivity, reliability, and predictive values. Student’s research is clear, accurate, and appropriate for the evaluation. Points Range: 39 (39%) – 44 (44%)
The response accurately evaluates the test or tool’s validity and reliability, and explains any issues with sensitivity, reliability, and predictive values. Student’s research is somewhat clear, accurate,and appropriate for the evaluation. Points Range: 33 (33%) – 38 (38%)
The response vaguely and/or with some inaccuracy evaluates the test or tool’s validity and reliability, and explains any issues with some sensitivity, reliability, and predictive values. Student’s research is vague or inaccurate for the evaluation. Points Range: 0 (0%) – 32 (32%)
“The response is inaccurate and/or missing evaluations of the test or tool’s validity and reliability, with explanations of any issues missing or lacking sensitivity, reliability, and predictive values. Student’s research is missing, inaccurate, or lacking for the evaluation.
Written Expression and Formatting – Paragraph Development and Organization:
Paragraphs make clear points that support well-developed ideas, flow logically, and demonstrate continuity of ideas. Sentences are carefully focused–neither long and rambling nor short and lacking substance. A clear and comprehensive purpose statement and introduction are provided that delineate all required criteria. Points Range: 5 (5%) – 5 (5%)
Paragraphs and sentences follow writing standards for flow, continuity, and clarity. A clear and comprehensive purpose statement, introduction, and conclusion are provided that delineate all required criteria. Points Range: 4 (4%) – 4 (4%)
Paragraphs and sentences follow writing standards for flow, continuity, and clarity 80% of the time. Purpose, introduction, and conclusion of the assignment are stated, yet are brief and not descriptive. Points Range: 3 (3%) – 3 (3%)
Paragraphs and sentences follow writing standards for flow, continuity, and clarity 60%–79% of the time. Purpose, introduction, and conclusion of the assignment are vague or off topic. Points Range: 0 (0%) – 2 (2%)
Paragraphs and sentences follow writing standards for flow, continuity, and clarity < 60% of the time. No purpose statement, introduction, or conclusion were provided.
Written Expression and Formatting – English writing standards:
Correct grammar, mechanics, and proper punctuation Points Range: 5 (5%) – 5 (5%)
Uses correct grammar, spelling, and punctuation with no errors. Points Range: 4 (4%) – 4 (4%)
Contains a few (1 or 2) grammar, spelling, and punctuation errors. Points Range: 3 (3%) – 3 (3%)
Contains several (3 or 4) grammar, spelling, and punctuation errors. Points Range: 0 (0%) – 2 (2%)
Contains many (≥ 5) grammar, spelling, and punctuation errors that interfere with the reader’s understanding.
Written Expression and Formatting – The paper follows correct APA format for title page, headings, font, spacing, margins, indentations, page numbers, running heads, parenthetical/in-text citations, and reference list. Points Range: 5 (5%) – 5 (5%)
Uses correct APA format with no errors. Points Range: 4 (4%) – 4 (4%)
Contains a few (1 or 2) APA format errors. Points Range: 3 (3%) – 3 (3%)
Contains several (3 or 4) APA format errors. Points Range: 0 (0%) – 2 (2%)
Contains many (≥ 5) APA format errors.
Total Points: 100

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