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$2.2$: An overview of Financial Management: Forms of Business Organization

The basic concepts of financial management are the same for all businesses, regardless of how they are organized. However, a firm's legal structure affects its operations. The main forms of business organizations are: $(1)$ proprietorships, $(2)$ partnerships, $(3)$ corporations, and $(4)$ limited liability companies $($LLCs$)$ and limited liability partnerships $($LLPs$).$ In terms of numbers, most businesses are $1.$ However, based on the dollar value of sales, most business is done by $-$ s $,$ Q$.$ Businesses are frequently started as $3$ and then converted to $-$Sele $0$ when their growth results in disadvantage outweighing advantages.