BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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franchise
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partnership
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sole proprietorship
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corporation
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Detailed explanation-1: -Business corporations A business corporation is the most complex form of business organization. Its formation and its internal operations are governed by state law. A business corporation is an entity organized for profit under the laws of one state.
Detailed explanation-2: -Corporations have the most government regulation. Compare the liability of the owners of partnerships, sole proprietorships, and corporations.
Detailed explanation-3: -Which form of business ownership is the most complex and difficult to form? The form of business that is the most complex and difficult to form is a corporation.
Detailed explanation-4: -Corporations offer the strongest protection to its owners from personal liability, but the cost to form a corporation is higher than other structures. Corporations also require more extensive record-keeping, operational processes, and reporting.