Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)
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Chapter 1, Problem 6Q
Summary Introduction

To identify: The various forms of business organization and their advantages and disadvantages.

Business organization: The organization which is established with the motive of earning profit is called business organization. The main objective of the business is to earn profit. There are various forms of business organization like proprietorship, partnership, corporation and limited liability partnership.

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