3 TYPES OF BUSINESS ORGANIZATIONS
SHARDAJAH GAINES KEIADJA NIX
definitions
sole proprietorship-A business owned and run by one person .
partnership-Is a business jointly owned by two or more persons.
corporations-is a form of business organization recognized by law as a separate entity having all rights of an individual.
real life examples
sole proprietorship-barber shop
partnership-doctors
corporations- Zaxby's
limited liability-situation in which a shareholder is not responsible for a corporation's debate
unlimited liability-situation in which a business owner is responsible for all the business debts stock-to investors board of directors-to run the business dividends-their share of the profits .
The most common is corporation. McDonald's.