Description
Create a chart that details the three forms of business organizations: proprietorships, partnerships, and corporations. Include key users of financial information, and briefly explain their roles.
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Explanation & Answer
Attached.
Running head: TYPES OF BUSINESSES
1
Types of Businesses
Name
Institution
TYPES OF BUSINESSES
2
There are three forms of business organizations namely; partnerships, proprietorships,
and corporations. The difference emerges in the manner the businesses are run. The chart
below is a representation of the different forms of businesses
Businesses
Proprietorship-In this
instance, this kind of
business the
management and
ownership is by a
single entity
Partnership- In this case,
the ownership is by two
or more entities. The
involved parties agree on
a framework of managing
the company
Partnership- In this case,
the business is owned by
more that two people....