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Sole proprietorship – pojedinacno vlasnistvo. Business entity – poslovni subjekt. Partnership – partnerstvo, drustvo osoba. Limited partnership – komanditno drustvo. Corporation – drustvo kapitala. Creditor - vjerovnik. Retail store – ducan s maloprodajom.
Forms of Business Organization. Sole Proprietorship-a business owned and operated by one person. Advantages of Sole Proprietorships. 1. Easy to organize-virtually no legal requirements. 2. Freedom of action-the owner makes all the business decisions. Disadvantages of Sole Proprietorships ,. 1. Limited ?nances-limited
MODULE 7. Business Organizations. Business can be undertaken in various forms. • In many instances, ways of doing business are governed by law. • In others, they are determined by the preferences of the entrepreneurs involved, such as nature of business, tax and personal considerations. Purpose Of Organizations.
explain the steps in the formation of these business organisation. 5.1 BUSINESS ORGANISATION. 5.2 FORMS OF BUSINESS ORGANISATION. 5.3 SOLE PROPRIETORSHIP. 5.3.1 CHARACTERISTICS OF SOLE PROPRIETORSHIP FORM OF BUSINESS. 5.3.2 MERITS OF SOLE PROPRIETORSHIP FORM OF BUSINESS ORGANISATION.
Page 1 of 3. COMPARISON OF THE FORMS OF BUSINESS ORGANISATIONS. Sole-Proprietorship. Partnership. Limited Partnership (LP). Limited Liability Partnership (LLP). Company. Definition. A business owned by one person. An association of two or more persons carrying on business in common with a view to profit.
Chapter 5. Forms of Business Ownership. Learning Objectives. 1) Identify the questions to ask in choosing the appropriate form of ownership for a business. 2) Describe the sole proprietorship and partnership forms of organization, and specify the advantages and disadvantages. 3) Identify the different types of partnerships,
3.0 INTRODUCTION. After identifying the business in any field e.g., Insurance, it is necessary then to have a legal entity to be known in the society. The legal entity can be in any form of a business organization. The various forms of organization are as follows: 1) Sole proprietorship. 2) Partnership. 3) Co-operative Society.
advantages and disadvantages of different business organisation structures and their accounting and financial management implications. Legal Forms of Business. Business firms can operate under a number of different legal forms. The main forms are sole proprietorships, partnerships, limited liability companies and.
2.1 INTRODUCTION. If one is planning to start a business or is interested in expanding an existing one, an important decision relates to the choice of the form of organisation. The most appropriate form is determined by weighing the advantages and disadvantages of each type of organisation against one's own.
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