What are the major differences between a sole proprietorship, a partnership, and a corporation? What are three pros and cons supporting/opposing choosing one or the other? Do you support the premise that the primary objective of management should be shareholder wealth maximization, which translates to maximizing the fundamental stock price? If so, does management have any obligation to act ethically? Do firms have any responsibility to society at large? Explain why or why not.

 

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The following are the primary distinctions between a corporation a partnership and a sole proprietorship A sole proprietorship is a company owned and run by one person whereas a partnership is a compa... View the full answer