Review to Kinds of Business Organization

Organized by two or more persons

The owners liability is up and beyond its personal assets

Has unlimited life

it has juridical personality separate from its owner

This kind of ownership has the inclusive power to vote

Ownership that has preference over other kinds especially with regard to dividends

this is what corporations distribute to its shareholders as share of its income

In its books, all the owners has specific accounts including withdrawals

It has the convenient of decision making as nobody has the power to oppose

When new owner is accepted into the business the old business is dissolved