Describe the basic features that distinguish the four basic forms of business ownership: sole proprietorships, general partnerships, C corporations, and limited liability companies.

Why do many entrepreneurs initially set up their businesses as sole proprietorships? Why do many successful entrepreneurs eventually decide to convert their sole proprietorship to some other form of ownership such as a corporation or LLC$?$

How do limited partnerships and limited liability partnerships differ from general partnerships and from each other?

What advantages help explain why virtually all large companies are organized as C corporations?

What steps are involved in forming a C corporation?

Describe the relationship between a corporation's common stockholders, its board of directors, and its chief executive officer $($CEO$).$

How does a merger differ from an acquisition? What is the difference between a horizontal merger or