Compare and contrast the three major forms of business organization which are sole proprietorship, partnership and corporation. Also, relate the scope of the role of a financial manager within these business organization.

Q: Association of two or more persons to carry on, as co-owners, a business for profit is known as: a.…

A: Business organization refers to any organization which is formed to carry out the commercial…

Q: Which of the following business organization is owned by two or more persons? O a. Company O b. Sole…

A: Following is the answer to the given question

Q: Explain common forms of business ownership—soleproprietorship, partnership, and corporation—and…

A: A form of business that is owned and controlled by an individual and does not have a separate legal…

Q: Which type of business organization is owned by only one owner? a. Corporation b. Partnership c.…

A: Sole proprietorship: The form of business entity which is owned and managed by an individual is…

Q: Bank Muscat LLC is an example of which of the following forms of business organization?

A: Solution: Option a. This will be the correct option only if the correct answer is not given in the…

Q: What are the benefits of the corporation in comparison with the partnership and proprietorship…

A: A corporation is a separate legal entity owned by the shareholders, who profit from the company's…

Q: Which of the following is true about an organizational structure? It is either a sole…

A: Business organization means combination and coordination of different people for the purpose of…

Q: Compare the potential for agency problems in sole proprietorships, partnerships, and corporations.…

A: An agency issue is a contradiction of interest that exists in every connection in which one person…

Q: Discuss the different types of business structures and compare and contrast these different…

A: Introduction: The way activities like task distribution, coordination, and supervision are oriented…

Q: Which business organization has the most legal formality requirements? a. Corporation b. Partnership…

A: A corporation is funded by many owners (shareholders) and to keep their money safe, corporations…

Q: The following describe several different business organizations. Determine whether each description…

A: Business Organization - A business organization is an individual or a group of people who…

Q: In accounting, an economic entity may be defined as- a. a business enterprise…

A: The accounting is based on various principles and standards.

Q: Which type of business organization is owned by only one owner? a. Corporation b. Partnership c.…

A: Sole proprietorship: The form of business entity which is owned and managed by an individual is…

Q: 4. Forms of business organizations Businesses can be classified into the following forms: sole…

A: Solution Concept Partnership business is a form of business which is carried out by two or more…

Q: The following describe several different business organizations. Determine whether each description…

A: Sole proprietorship is a form of business organization where a single person is the owner of…

Q: Differentiate among the major forms of business organization and describe what you consider to be…

A: Major Forms of Business Organization is as follows: 1. Sole Proprietorship  2. Partnership  3.…

Q: Which type of financial structure primarily involves one person owning a business?  Group of answer…

A: There are various forms of business such as partnership, sole proprietorship, corporations etc.

Q: For business it is difficult to expand and increase the number of branches: O a. Corporation b.…

A: Partnership and corporation businesses have more than one owners and managing personals and they…

Q: It is defined as a business activity or event that affects a business financially

A: Business activities are related to the operations of the business. These activities are of different…

Q: Explain the appropriate goals of financial management for a company that runs under corporation form…

A: Financial management means planning, organizing, directing, and managing financial activities such…

Q: For the three major forms of business, LLC, partnership, and corporation, discuss two advantages and…

A: Limited Liability Company (LLC) is a corporate form of business in which the personal assets of…

Q: The following describe several different business organizations. Determine whether each description…

A: Sole proprietorship: The form of business entity which is owned and managed by an individual is…

Q: How distinguishes business administration form accounting

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: Determine if sole proprietorship, partnership, or corporation. Select all that is applicable between…

A: A corporation other enterprising entity engaging in commercial, industrial, or professional activity…

Q: As used in the definition of accounting, an economic entity may be a. a business enterprise b. an…

A: Answer is 'D'.  All of the above An economic entity may be a business enterprise or  an individual…

Q: What are the key characteristics of a corporation? What are some of the advantages and disadvantages…

A: Corporation : A corporation is a legal entity whose investors purchase shares of stock as proof of…

Q: Compare and contrast the forms of business organization. Sole/Single Proprietorship  Partnership…

A: Sole/Single Proprietorship: A sole proprietorship is a sort of business structure that allows one…

Q: Determine whether each describes a sole proprietorship, a general partnership, or a corporation.…

A: The answers are provided below:

Q: Classify the business practices of bubble Box, and tea’s Cup according to its similarities to the…

A: A shareholder can be an individual, company, or institution that owns shares of the company,so one…

Q: Refer to Chapter 11-1A, page 619: Characteristics of sole proprietorships, partnerships, and…

A: Proprietorship is that form of business which is being held by single person. Partnership is the…

Q: When the management of a business is conducted by individuals other than the owners, the business is…

A: There are four types of business organizations , they are;  1.sole proprietors 2. partnership 3.…

Q: Compare and contrast the three types of business organizations (Sole proprietorship, Partnership,…

A: We have to compare and contrasts three different types of business organization across parameters…

Q: Which of the following organization forms accounts for the greatest number of firms? O A. Limited…

A: The businesses are established to earn income. The business can be in any form like partnership,…

Q: The following describe several different business organizations. Determine whether each description…

A: Answer:   Corporation.

Q: Determine and distinguish the different forms of business activities of business organizations.

A: Business entity is the firm which uses the economic resources for providing the goods and services…

Q: Describe the three major types of business organizations and how

A: Answer:Three main types of Business organizations are as follows:Sole Proprietorship: This business…

Q: In which of the following business organization the owners could only lose the money they invested…

A: