3. Explain the concept of the following Business Ownerships: Sole Proprietorship, Partnership, Corporation, and Cooperation. Describe the advantages and disadvantages of each business.

State two advantages of a Joint Venture business.

A business created as a distinct legal entity composed of one or more individuals or entities is known as a:                  Select one: a. None of the given answers is correct. b. Sole proprietorship c. Owner-managed entity d. Partnership

For the three major forms of business, LLC, partnership, and corporation, discuss two advantages and two disadvantages of each on taxation, equity owner's legal liability, and relative voice in day-to-day business management.

The difference between subsidiaries and associates can be said to revolve aroundpower and control. Critically evaluate this statement, giving examples of when a parent company would consider investing in either a subsidiary or an associate.

Define each of the following terms:g. Joint venture; corporate alliance

Answer the following question in your own words: Explain the following corporate structures. Limited Liability Company (LLC) Joint Stock Company General Joint Stock Company (SAOG) Joint Venture Holding Company Commercial Agent

Identify one advantage of corporate form of business over a proprietorship

What options does a group of people have when forming a business? Why might a partnership not be the best form of business organization? What other options might they have?

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…