Identify different forms of business organization and business activities.

¢ The three forms of business organizations are the sole proprietorship (owned by one person), the partnership (jointly owned by two or more persons), and the corporation

(separate legal entity organized under the laws of a provincial or federal jurisdiction),

* Regardless of the form of business, all businesses are involved in three activities.

Financing activities include obtaining funds necessary to begin and operate a business.

Investing activities involve buying the assets that enable a business to operate. Operating activities are the activities of a business that generate a profit.