Question

State the point of choice of forms of business organization.

Answer 1

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Choice of Form of Business Organization. Cost and Ease at Setting up the Organization: According to the cost of setting up, sole proprietorship is the most inexpensive of all. ... Liability: The liability o owner/partner I unlimited in the case of sole proprietorship and partnership.
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Answer 2

Different factors affecting choice of forms of business organization are:

Explanation: There are various forms of the organization such as sole proprietorship, partnership firm, joint stock company etc. Every form has their own pros and cons. So, it is very much necessary to decide which form suits the best as per the situation. The following factors helps in making the best decision regarding the selection of the forms of business organization:

• Nature of activity.
• Scale of operations.
• Capital requirements.
• Degree of control.
• Risk and liability.
• Stability of business.
• Degree of flexibility.
• Profit sharing.
• Formalities to start the venture.

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