CFIN -STUDENT EDITION-W/ACCESS >CUSTOM<
6th Edition
ISBN: 9780357753118
Author: BESLEY
Publisher: CENGAGE C
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Chapter 1, Problem 13PROB
Summary Introduction
To describe: major differences between three forms of business organizations
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Determine whether each describes a sole proprietorship, a general partnership, or a corporation. Note that a characteristic may apply to more than one type of business structure. :
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Compare and contrast the three types of business organizations (Sole proprietorship, Partnership, and Corporation) with respect to the following items:(1) ownership, (2) liability, and (3) capitalization.
The following describe several different business organizations. Determine whether each description best refers to a sole proprietorship (SP), partnership (P), corporation (C), or limited liability company (LLC).
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CFIN -STUDENT EDITION-W/ACCESS >CUSTOM<
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- Discuss the different types of business structures and compare and contrast these different structures (Corporate, Sole Proprietorship, Limited Liability),arrow_forwardWhich of the following is not one of the three forms of business organization? Corporations. Partnerships. Proprietorships. Investorsarrow_forwardDescribe the difference between a sole proprietorship, a partnership, and a corporation?arrow_forward
- Which business organization has the most legal formality requirements? a. Corporation b. Partnership c. Joint Ventures d. Sole proprietorshiparrow_forwardCompare and contrast the three major forms of business organization which are sole proprietorship, partnership and corporation. Also, relate the scope of the role of a financial manager within these business organization.arrow_forwardExplain common forms of business ownership—soleproprietorship, partnership, and corporation—and demonstrate how they differ in terms of their pre-sentation in the statement of financial position.arrow_forward
- In the context of the various forms of business ownership, discuss the two basic types of partnerships.arrow_forward3. Explain the concept of the following Business Ownerships: Sole Proprietorship, Partnership, Corporation, and Cooperation. Describe the advantages and disadvantages of each business.arrow_forwardWhat are the key differences among proprietorships, partnerships, and corporations?arrow_forward
- Which forms of business organization, ownership is readily transferable? a. Corporation b. Sole Proprietorship c. Limited Liability Company d. Partnershiparrow_forwardWhich of the following is true about an organizational structure? It is either a sole proprietorship, a partnership, or a corporation. It is similar for most companies. It is the framework by which a group is organized. O It is typically inflexible and centralized.arrow_forwardQuestion based on the picture attached (b) Explain any three (3) costs and benefits of partnerships/proprietorships as compared to corporation. Give your opinion which type of organizational structure is preferable.arrow_forward
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