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Three forms of an organziation

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

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The three forms of an organization are a sole proprietorship, a partnership and a corporation.

A sole proprietorship is the oldest legal structure in a business organization, in which functionality is governed and performed by a single proprietor of their company in their own comportment. This is the only form of business where the possessor is exclusively accountable for all incurred debts.

The foremost advantages of a sole proprietorship are straightforward start up, economical as there are no requirements of substantial capital and managerial proficiency, control of efficiency and resolution since all company utilities are handled by a solitary person, diminutive governmental rules and regulations, ease of dissolution, etc. The principle disadvantages in a sole proprietorship are unlimited legal liability, sole responsibility and accountability; in addition, all capital must come from the market place and lack of continuity upon death. ...

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A sole proprietorship is the oldest legal structure in a business organization, in which functionality is governed and performed by a single proprietor of their company in their own comportment. This is the only form of business where......includes references in APA.

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