Answered: Compare and contrast the forms of…

Compare and contrast the forms of business organization. Sole/Single Proprietorship Partnership Corporation Cooperatives

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter1: An Overview Of Managerial Finance

Section: Chapter Questions

Problem 13PROB

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Question

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Compare and contrast the forms of business organization.

Sole/Single Proprietorship
Partnership
Corporation
Cooperatives

Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.

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