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    Three forms of business organization

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    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? Do you agree with this goal? Why or why not?

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    The response addresses the queries posted in 521 Words, APA References

    Forms of business organization

    1. Sole proprietorship: This is the oldest form of business organization in which all the functions are performed and govern by the single owner of the business in its own manner. In this type of business organization, owner himself is responsible for all debts. The main advantages of sole proprietorship are easy to set up or inexpensive, no requirement of huge capital and managerial skills, effective or decision making and control on business functions because managed by single person, few governmental regulations, etc. The major disadvantages in this form of organization are unlimited liability, owner face the problem of raising additional capital from the market place, limited life of the firm, etc.

    2. Partnership: This is the second most vital form of business ...

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    The response addresses the queries posted in 521 Words, APA References