what is the meaning of forms of business organization
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A business can be organized in one of several ways, and the form its owners choose will affect the company's and owners' legal liability and income tax treatment. Here are the most common options and their major defining characteristics. Sole Proprietorship. The default option is to be a sole proprietor.
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There are basically 3 types of business organisation, namely
1. Merchandising business where buying and selling of products in markets takes place
2.Service business where intangible products are provided as in advice, expertise, professional skills,etc
3.Manufacturing business where products are bought to make new products and sold in markets.
1. Merchandising business where buying and selling of products in markets takes place
2.Service business where intangible products are provided as in advice, expertise, professional skills,etc
3.Manufacturing business where products are bought to make new products and sold in markets.
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