Purchase Solution

The three forms of business organization and the advantages and disadvantages of each form

Not what you're looking for?

Ask Custom Question

What are the three forms of business organization?

What are the advantages and disadvantages of each form?

For a corporation, what is the overall goal of the financial manager?

What is the objective of this firm?

Do you agree with this goal?

Why or why not?

Purchase this Solution
Solution Summary

The three forms of business organizations are given. The solution discusses the goal of a financial manager.

Solution Preview

What are the three forms of business organization?
There are three main forms of business organization: sole proprietorship, partnership, and corporation.
1. Sole Proprietorship: Sole proprietorship is a method of owning a business in which one person owns the entire business and reports all profits and losses directly on his or her personal income tax return, as contrasted with corporate, joint or partnership ownership. A sole or individual proprietorship is easy to organize and flexible to operate.
2. Partnership: Partnership is a form of ownership in which two or more partners are involved. Like the sole proprietorship, a partnership arrangement carries unlimited liability for the owners. Limited Partnership is a special form of partnership to limit liability for most of the partners. Under this arrangement, one or more partners are designated as general partners and have unlimited liability for the debts of the firm, while the other partners are designated as limited partners and are only liable for their ...

Solution provided by:
Umut Oltulu, MBA
Education
  • BSc, Dokuz Eylul University
  • MBA, Texas A&M University-Kingsville
Recent Feedback
  • "Thanks"
  • "Thanks"
  • "This is a great help...Thank you"
  • "Thanks for the advice!"
  • "Oh my gosh u are awesome... A++"
Purchase this Solution
Free BrainMass Quizzes
Writing Business Plans

This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.

Change and Resistance within Organizations

This quiz intended to help students understand change and resistance in organizations

Marketing Research and Forecasting

The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.

Team Development Strategies

This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.

Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

View More Free Quizzes
Related BrainMass Solutions

  • Forms of business organization

    313472 Advantages and disadvantages of the three forms of business organization What are the three forms of business organization and what are the advantages and disadvantages of each form?

  • Buisness Organizations

    97549 Buisness Organizations What are the three forms of business organization and what are the advantages and disadvantages of each form? For a corporation, what is the overall goal of the financial manager? What is the objective of this firm?

  • Differentiate between the three major organizational forms

    These three forms of organizations are different from each other and have their own advantages and disadvantages.

  • Forms of Business Organization

    88141 Form of Business Organization What are the three forms of business organization and what are the advantages and disadvantages of each form? For a corporation, what is the overall goal of the financial manager?

  • Three forms of business organization

    212915 What are the three forms of business organization and what are the advantages and disadvantages of each form? For a corporation, what is the overall goal of the financial manager?

  • Types of Business Organizations

    631106 Types of Business Organizations What are the three primary forms of business organizations? Describe their advantages and disadvantages from a financial point of view.

  • Evaluate the following scenario and determine why the particular form of business organization should be used

    Define the form of business organization currently used Discuss the advantages and disadvantages of this form of business organization Define at least two alternative forms of business organization Discuss the advantages and disadvantages of

  • Three forms of an organziation

    332779 Details a sole proprietorship, a partnership and a corporation. Describes the three forms of an organization: sole proprietorship, a partnership and a corporation. Gives advantages and disadvantages.

  • Business Organizations

    179169 The three forms of business organization What are the three forms of business organization and what are the advantages and disadvantages of each form? For a corporation, what is the overall goal of the financial manager?

View More Related Solutions