Forms of Business Organization

Sarah and Emily are best friends who want to open a bakery together. They want to share equally in the profits and losses, but they also want to limit their personal liability. Which form of business organization would be most suitable for them?

• Partnership

• Corporation

• Limited Liability Company

• Sole Proprietorship

John wants to start a software development company. He wants complete control over the business and its operations, and he is willing to accepts full personal liability. Which form of business organization would be most appropriate for him?

• Sole Proprietorship

• Limited Liability Company

• Partnership

• Corporation

A group of investors wants to create a large scale manufacturing company. They need to raise significant capital from the public and want to limit their personal liability. Which form of business organization would be suitable for them?

• Partnership

• Limited Liability Company

• Corporation

• Sole Proprietorship

It is a form of business organization in which the legal entity separate from the shareholders and employees.

• Sole Proprietorship

• Corporation

• Limited Liability Company

• Partnership

It is a form of business organization in which the business entity was owned and run by one individual.

• Limited Liability Company

• Corporation

• Sole Proprietorship

• Partnership