Three forms of business ownership

Three forms of business ownership

Discuss the advantages and disadvantages of the three forms of business ownership; sole proprietorship, partnership, and corporation. One page double-spaced 12 inch font

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The advantages of sole proprietorship include: easy to create, no fees needed in its creation and in maintaining it, the owner and the business are one and the same and thus they are recognized by law as a single entity and lastly it is possible for the owner to use the funds as required. The disadvantages include the personal liability of the owner whereby the owner is liable for all the debts and thus personal property…………

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