To discuss: The four main disadvantages of the
Introduction:
The Business organization is a process of organizing, planning, monitoring, and controlling of resources in an entity to attain its objectives. There are three various types of business organization. They are as follows:
- Sole proprietorship
- Partnership
- Corporation
To think critically about: The advantages of the partnership and sole proprietorship forms of business organization in contrast to the corporation.
Introduction:
The Business organization is a process of organizing, planning, monitoring, and controlling of resources in an entity to attain its objectives. There are three various types of business organization. They are as follows:
- Sole proprietorship
- Partnership
- Corporation
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Essentials of Corporate Finance
- Owners have no personal liability under which legal business structure? A. a corporation B. a partnership C. a sole proprietorship D. There is liability in every legal business structure.arrow_forwardWhile sole proprietorships and corporations are the most popular forms of business organization, the limited liability company (LLC) is a close third. Limited liability companies are treated like partnerships in the majority of situations. Why do you think LLCs are gaining in popularity?arrow_forwardDiscuss the different types of business structures and compare and contrast these different structures (Corporate, Sole Proprietorship, Limited Liability),arrow_forward
- How does running a company as a partnership as opposed to a corporation benefit the parties involved? What are the drawbacks of this approach?arrow_forwardWhich form of business organization is characterized by having the shortest start-up time and lowest legal costs? Select one: a. partnership b. S-corporation c. proprietorship d. corporationarrow_forwardFor the three major forms of business, LLC, partnership, and corporation, discuss two advantages and two disadvantages of each on taxation, equity owner's legal liability, and relative voice in day-to-day business management.arrow_forward
- EBK CONTEMPORARY FINANCIAL MANAGEMENTFinanceISBN:9781337514835Author:MOYERPublisher:CENGAGE LEARNING - CONSIGNMENTPrinciples of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax College