The basic concepts of financial management are the same for all businesses, regardless of how they are organized. However, afirm's legal structure affects its operations. The main forms of business organizations are: (1) proprietorships, (2) partnerships (3) corporations, and (4) limited ability companies (LLC) and limited partneris (Ps. In terms of numbers, most businesses are act However, based on the dollar value of sales, most business is done by tot Businesses are frequently started as and then converted to when their growth results indicativantages outweighing advantages A proprietorship has three important advantages: (1) it is easily and inexpensively formed, (2) it is subject to government regulations, and it is subject to lower income taxes than are Select However, a proprietorship has three important limitations (1) A proprietor has personality for the business debts (2) The Wite of the business is Vimited to the life of the individual who created it. ) A proprietorship has difficulty obtaining large sums of capital proprietorships are primarily for businesses Apartnership has two important advantages: (1) it is easily and inexpensively formed and 2) is incom a ted on a pro busto partners and t o basso the partnership avoids higher income taxes. A partnership has four important advantages: ( personal . O a lty of transferring ownership, and (4) difficulty of raising large amounts of capital A corporation has the following advantages: (1) life (2) ownership that is easily transferred through the exchange of stock ) and (4) raie large amounts of capital to operate large businesses. Its disadvantages are: (1) Corporate earnings may be subject to action and corporation and greed state and federal reports is complex. Large corporations are known as C corporation. However, asad to small businesses Congress created corporations Limited liability company (LLCS) and limited liability partnerships (UPS) have limited laty protection but we wed o comparation because of have votes in proportion to their ownership Interest, LLCs and LPs have been gaining in popularity, but large companies will find it avantageous to be advantages in raising capital for growth The basic concepts of financial management are the same for all businesses, regardless of how they are organized. However, afirm's legal structure affects its operations. The main forms of business organizations are: (1) proprietorships, (2) partnerships (3) corporations, and (4) limited ability companies (LLC) and limited partneris (Ps. In terms of numbers, most businesses are act However, based on the dollar value of sales, most business is done by tot Businesses are frequently started as and then converted to when their growth results indicativantages outweighing advantages A proprietorship has three important advantages: (1) it is easily and inexpensively formed, (2) it is subject to government regulations, and it is subject to lower income taxes than are Select However, a proprietorship has three important limitations (1) A proprietor has personality for the business debts (2) The Wite of the business is Vimited to the life of the individual who created it. ) A proprietorship has difficulty obtaining large sums of capital proprietorships are primarily for businesses Apartnership has two important advantages: (1) it is easily and inexpensively formed and 2) is incom a ted on a pro busto partners and t o basso the partnership avoids higher income taxes. A partnership has four important advantages: ( personal . O a lty of transferring ownership, and (4) difficulty of raising large amounts of capital A corporation has the following advantages: (1) life (2) ownership that is easily transferred through the exchange of stock ) and (4) raie large amounts of capital to operate large businesses. Its disadvantages are: (1) Corporate earnings may be subject to action and corporation and greed state and federal reports is complex. Large corporations are known as C corporation. However, asad to small businesses Congress created corporations Limited liability company (LLCS) and limited liability partnerships (UPS) have limited laty protection but we wed o comparation because of have votes in proportion to their ownership Interest, LLCs and LPs have been gaining in popularity, but large companies will find it avantageous to be advantages in raising capital for growth