1) Which form of business organization would be most appropriate in each of the following cases. Sole proprietorship, Partnership, Corporation, Co-operative, Government enterprise or Non-profit Organization. Explain your choice short and concisely.

a) a three-person law firm

b) a corner convenience store owned and operated by a single owner

c) a savings and loan organization for school district employees only

d) a chain of 12 restaurants with 60 owners

e) an enterprise providing inexpensive public transport to the residents of a community2

2) Explain the difference between each of the following pairs of terms

a) a general partner and a limited partner

b) a public corporation and a private corporation

c) dividends and patronage