Business Organization Forms, Pros & Cons

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#1. In a sole proprietorship, who owns and manages the business?

#2. What is the primary advantage of a sole proprietorship?

#3. In terms of liability, the owner of a sole proprietorship is:

#4. Which of the following is a limitation of a sole proprietorship?

#5. What happens to the business if the owner of a sole proprietorship passes away?

#6. In a general partnership, how are profits and losses shared among partners?

#7. What is a key characteristic of a limited partnership?

#8. What is a significant advantage of a partnership over a sole proprietorship?

#9. In a limited liability partnership (LLP), how is the liability of partners limited?

#10. How is decision-making typically structured in a partnership?

#11. What is a key feature of a joint stock company?

#12. What is the significance of shares in a joint stock company?

#13. In a public joint stock company, how are shares traded?

#14. What is a characteristic of the board of directors in a joint stock company?

#15. How is ownership transferred in a joint stock company?

#16. What is the primary goal of a cooperative?

#17. In a worker cooperative, who typically owns and manages the business?

#18. How are profits distributed in a cooperative?

#19. What is a significant advantage of a consumer cooperative for its members?

#20. How is decision-making typically structured in a cooperative?

#21. What is a major disadvantage of a sole proprietorship?

#22. In a partnership, how are losses typically shared among partners?

#23. What is a key similarity between a joint stock company and a cooperative?

#24. Which form of business organization is most suitable for raising capital through the sale of shares on the stock market?

#25. What is a common characteristic of both partnerships and cooperatives?

#26. Which business form offers the advantage of limited liability and ease of transferability of ownership?

#27. In which form of business organization can the ownership be easily transferred without affecting the continuity of the business?

#28. What is a common disadvantage of both sole proprietorship and partnership?

#29. In a cooperative, what role do members play in decision-making?

#30. Which form of business organization is most suitable for a small business with a single owner seeking simplicity and full control?

#31. What is a major merit of a sole proprietorship?

#32. One of the demerits of a sole proprietorship is:

#33. What is a potential advantage of a sole proprietorship in terms of decision-making?

#34. In terms of liability, what is a significant demerit of a sole proprietorship?

#35. What is a major advantage of a partnership over a sole proprietorship?

#36. One of the demerits of a general partnership is:

#37. In a limited partnership, what is a potential merit?

#38. What is a potential demerit of a limited liability partnership (LLP)?

#39. What is a significant merit of a joint stock company?

#40. One of the demerits of a joint stock company is:

#41. What is a potential merit of shares in a joint stock company?

#42. In a public joint stock company, shares are typically traded:

#43. What is a major merit of a cooperative?

#44. One of the demerits of a worker cooperative is:

#45. What is a potential merit of a consumer cooperative for its members?

#46. One of the demerits of a cooperative is:

#47. What is a common merit of both partnerships and cooperatives?

#48. In terms of ownership transfer, what is a common feature of a joint stock company and a cooperative?

#49. What is a common demerit of both sole proprietorship and partnership?

#50. What is a potential demerit of both a limited partnership and a limited liability partnership (LLP)?

#51. In terms of decision-making, what is a potential common demerit of a joint stock company and a cooperative?

#52. What is a potential common merit of both a general partnership and a joint stock company?

#53. What is a common demerit of both a sole proprietorship and a joint stock company?

#54. What is a potential demerit of both a partnership and a cooperative?

#55. What is a common merit of both a limited liability partnership (LLP) and a cooperative?

#56. What is a potential demerit of both a sole proprietorship and a cooperative?

#57. What is a potential demerit of both a partnership and a joint stock company?

#58. What is a potential common merit of both a general partnership and a cooperative?

#59. What is a common merit of both a limited partnership and a limited liability partnership (LLP)?

#60. What is a potential demerit of both a general partnership and a sole proprietorship?

Finish