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8.30 SSEMI1a Business Organizations Learning Task

Last updated over 3 years ago
4 questions
Required
25

SOLE PROPRIETORSHIP - Advantages & Disadvantages

  • Easy to form
  • Unlimited liability
  • Difficult to raise funds
  • Control over decisions
  • Advantages
  • Disadvantages
Required
25

Partnership - Advantages & Disadvantages

  • Potential for conflict
  • Unlimited liability
  • Shared losses
  • Specialized skills
  • Advantages
  • Disadvantages
Required
25

Corporation - Advantages & Disadvantages

  • Limited Liability
  • Double taxation
  • Easier to raise funds
  • More regulations
  • Advantages
  • Disadvantages
Required
25

Business Organization Key Term Practice

Draggable itemCorresponding Item
stocks
firms legally owned by only one person.
sole proprietorship
firms legally owned by two or more people
dividend
firms legally owned by stockholders
unlimited liability
portion of a firm's profits that are distributed to shareholders
partnership
shares of a company that can be purchased or sold on an exchange
corporation
owner(s) is responsible for firm's debts
limited liability
responsibility for business debts are restricted to the shares of stock