Question

4 what consideration should be kept in mind in the choice of a suitable form of business organization?

Answer 1

The most common forms of legal structure are the sole proprietorship, the partnership, and the corporation. An LLC is a relatively new business structure. When deciding on a legal structure, every small business owner must consider several important factors before making the choice.

Answer 2

Answer:

➡️ The size of risk and the willingness of owners to bear it is an important consideration in the selection of a legal form of ownership organisation. The amount of risk involved in a business depends, among other, on the nature and size of business.

Control.

Limitation of liability.

Cost and complexity of formation and legal structure.

Flexibility and future needs.

Tax implications.

Ongoing administration.