What are the three (3) main types of business organizations? Name one (1) advantage and one disadvantage of each organizational type. Type: Advantage: Disadvantage: Type: Advantage: Disadvantage: A general partner: a. has more management responsibility than a limited b. faces double taxation whereas a limited partner does c. cannot lose more than the amount of his/her equity in d. has less legal liability than a limited partner. e. is the term applied only to corporations which invest Any situation where a potential conflict can arise between the firm's managers is referred to as a(n): a. control issue. b. personnel conflict. c. organizational problem. d. agency problem e. compensation issue