Explain the characteristics of sole proprietorships, analyze the advantages and disadvantages of organizing a business as a sole proprietorship, Explain the characteristics of partnerships analyze the advantages and disadvantages of partnerships.
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8. Explain the characteristics of sole proprietorships, analyze the advantages and disadvantages of organizing a business as a sole proprietorship, Explain the characteristics of
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A business organization is an entity that is formed to carryout commercial activities. There are different forms of business organizations like partnership, sole proprietorship, company, etc. Choosing the correct business form is an essential task for any business. There are several aspects such as liability, profit sharing, cooperation, risk involved, regulations that are taken into consideration while deciding the form of the business. The form of business has a huge impact on the operations of the business that may significantly influence the further decisions. It also depends on the number of people and interest held in the business that determines the business form.
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