Question

what are the three forms of business organisations?​

Answer 1

Answer:

The Three Forms Of Business Organisations:-

Explanation:

1. Sole Proprietorship Concern

2. Partnership

3. Corporation.

Answer 2

☀ The Three Forms of Business Organisations :

• Sole Proprietorship - :

☢ The vast majority of small businesses start out as sole proprietorships. These businesses are owned by one person, usually, the individual who has day - to - day responsibility for running the business. Sole proprietors can be independent contractors, freelancers or home - based businesses.

• Partnerships - :

☢ In a Partnership, two or more people share ownership of a single business. Like proprietorships, the law does not distinguish between the business and its owners. The partners should have a legal agreement that sets forth how decisions will be made, profits will be shared, disputes will be resolved, how future partners will be admitted to the partnership, how partners can be bought out or what steps will be taken to dissolve the partnership when needed.

• Corporations - :

☢ A corporation is considered by law to be a unique entity, separate from those who own it. A corporation can be taxed, sued and enter into contractual agreements. The corporation has a life of its own and does not dissolve when ownership changes.

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