MANAGEMENT

Detailed explanation-1: -Unlike sole proprietorships and partnerships, corporations are subject to many regulations and reporting requirements.

Detailed explanation-2: -The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation.

Detailed explanation-3: -A sole proprietorship is the easiest and simplest form of business ownership. It is owned by one person. There is no distinction between the person and the business. The owner shares in the business’s profits and losses.

Detailed explanation-4: -Sole Proprietorship Simplicity of organization-this is the most common form of business organization in the United States because it is the easiest and least expensive to establish.