Answered: What are different types of…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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What are different types of enterprises?

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Introduction to the topic

Enterprise -

It can also be said as for profit business. The person who is able to start a new venture or establishing a new business by taking all the risk and return which is associated with the business. The person who will form the enterprise is known as the entrepreneur. He will make the use of new ideas and innovation to start up the business which will lead to be productive for the person. The person will have a variety of choice to choose the form of business to establish the new business.

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