Question

current attempt in progress
match each of the following forms of business organization with a set of characteristics: sole proprietorship, partnership, and corporation.

a.
shared control, tax advantages, increased skills and resources.

b.
simple to set up and maintains control with owner.

c.
easier to transfer ownership and raise funds, no personal liability.

Explanation:

• For part a: A partnership involves shared control among partners, has tax advantages compared to corporations in some aspects, and partners bring in increased skills and resources.
• For part b: A sole proprietorship is simple to set up as there's only one owner, and the owner maintains full control over the business.
• For part c: A corporation allows for easier transfer of ownership (through selling stocks), can raise funds by issuing stocks, and the owners (shareholders) have no personal liability for the corporation's debts.

Answer:

a. Partnership
b. Sole Proprietorship
c. Corporation