Match each of the following forms of business organization with a set of characteristics: sole proprietorship (SP), partnership (P), corporation (C). (a) ___ Shared control, tax advantages, increased skills and resources. (b) _ Simple to set up and maintains control with founder. (c) ___ Easier to transfer ownership and raise funds, no personal liability.

Chapter 1, Brief Exercises #1

Match each of the following forms of business organization with a set of characteristics: sole proprietorship (SP), (P), (C).
(a) _____ Shared control, tax advantages, increased skills and resources.
(b) _____ Simple to set up and maintains control with founder.
(c) _____ Easier to transfer ownership and raise funds, no personal liability.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...