Question

Evaluate the strengths and weaknesses of the primary forms of business organizations.

Answer 1

Explanation:

Sole Proprietorship:

      Strengths:

• Owner receives the whole profit

• The independence which the proprietor gets

       Weakness:

• Has limited fund raising power

• Lacks continuity when the proprietor dies

Partnership:

       Strengths:

• Can raise more funds

• More brain power and also managerial skills

Weakness:

• Owners have unlimited liability

• Partnership goes away when the partner dies

• Difficult to transfer partnership

Corporation:

Strengths:

• Owners have limited liability

• Long life of firm

Weakness:

• Subject to government regulation

• Lacks secrecy

• More expensive to organize the system

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