Forms of Business

Owners of this type of organization may receive dividends.

• Sole proprietorship
• Partnership
• Corporation
• Franchise

Income is taxed twice for this form of business.

• Sole proprietorship

• Partnership

• Corporation

• None of the above

This type of business ownership is often entered into by people with complementary skills

• Sole proprietorship

• Partnership

• Corporation

• All the above

Business form with only one owner

• Sole proprietorship
• Partnership
• Corporation
• Franchise

The life of this business form is NOT limited to the time that the owner/owners are able to operate the business.

• Sole proprietorship
• Partnership
• Corporation
• Franchise

The type of business ownership in which all business decisions are the sole responsibility of the owner.

• Sole proprietorship

• Partnership

• Corporation

• Franchise

This type of business is owned by stockholders.

• Sole proprietorship
• Partnership
• Corporation
• Franchise

The Board of Directors control daily business operations for this type of business.

• Sole proprietorship

• Partnership

• Corporation

• Cooperative

This type of organization is a legal entity separate from its owners.

• Sole proprietorship
• Partnership
• Corporation
• Franchise

Owners (or stockholders) of this type of organization enjoy limited liability.

• Sole proprietorship
• Partnership
• Corporation
• Franchise