EBK CFIN
6th Edition
ISBN: 9781337671743
Author: BESLEY
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Question
Chapter 1, Problem 13PROB
Summary Introduction
To describe: major differences between three forms of business organizations
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Students have asked these similar questions
Compare and contrast the three types of business organizations (Sole proprietorship, Partnership, and Corporation) with respect to the following items:(1) ownership, (2) liability, and (3) capitalization.
Discuss the different types of business structures and compare and contrast these different structures (Corporate, Sole Proprietorship, Limited Liability),
Which of the following is not one of the three forms of business organization?
Corporations.
Partnerships.
Proprietorships.
Investors
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- In the context of the various forms of business ownership, discuss the two basic types of partnerships.arrow_forward3. Explain the concept of the following Business Ownerships: Sole Proprietorship, Partnership, Corporation, and Cooperation. Describe the advantages and disadvantages of each business.arrow_forwardWhat are the key differences among proprietorships, partnerships, and corporations?arrow_forward
- Which forms of business organization, ownership is readily transferable? a. Corporation b. Sole Proprietorship c. Limited Liability Company d. Partnershiparrow_forwardWhich of the following is true about an organizational structure? It is either a sole proprietorship, a partnership, or a corporation. It is similar for most companies. It is the framework by which a group is organized. O It is typically inflexible and centralized.arrow_forwardWhich type of business organization is owned by only one owner? a. Corporation b. Partnership c. Sole proprietorship d. Items a, b, and c are all correcarrow_forward
- Multiple choice: All of the following are forms of business organizations except: A. proprietorship B. partnership C. corporation D. governmental unit 2. An entity where ownership is divided into shares of stock is a: A. proprietorship B. trade agreement C. corporation D. mutual agencyarrow_forwardDifferentiate between S and C corporations.arrow_forwardThe following describe several different business organizations. Determine whether each description bestrefers to a sole proprietorship (SP), partnership (P), corporation (C), or limited liability company (LLC). IBC Services does not have separate legal existence apart from the one person who owns it.arrow_forward
- Refer to Chapter 11-1A, page 619: Characteristics of sole proprietorships, partnerships, and corporations Required The three primary types of business organization are proprietorship, partnership, and corporation. Each type has characteristics that distinguish it from the other types. In the left column of the following table write the name of the type of business organization that is most likely to possess the characteristic that is described in the right column of the table. The first item is shown as an example. Business Type Characteristic Proprietorship Owned and operated by a single individual Subject to double taxation Has a retained earnings account on its balance sheet One owner may be held personally liable for actions taken on behalf of the business by different owner Profits benefit a single individual Frequently uses legal agreements to define profit distribution for two or more owners Most highly regulated form of business The business dissolves with the death of its only…arrow_forward■ What are the key differences between proprietorships, partnerships,and corporations? Be sure to describe the advantages anddisadvantages of each.arrow_forwardWhich of the following business organization is owned by two or more persons? O a. Company O b. Sole proprietorship O c. Partnership O d. Corporation.arrow_forward
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