The text identied three common legal forms of business organizations: sole proprietorships, partnerships, and corporations. Required: (a)

Question:

The text identiﬁed three common legal forms of business organizations: sole proprietorships, partnerships, and corporations.
Required:
(a) Compare and contrast what you believe would be key advantages and disadvantages of operating a business as a sole proprietorship versus a corporation.
(b) Compare and contrast what you believe would be key advantages and disadvantages of operating a business as a versus a corporation.
(c) What other forms of business organizations were discussed in the chapter, and what is (are) their distinguishing characteristics?
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...