In a well-organized, 500-word essay, compare, contrast, and describe the sole proprietorship, partnership, limited liability company, and corporate forms of business organization. Include the pros and cons of each form of business.

APA 7th Ed

Answer preview

Business organizations are categorized into different forms and types. The most common forms of business are corporations, partnerships, limited liability companies, and sole proprietorships. These forms of business have similarities in that they all have legal ownership, rights, and responsibilities. For instance, state and federal tax laws control the formation and the operations in any business, where every business owner has to file returns annually. Before choosing the form of business to adopt, one should first understand the various organizations to see the one that suits them best.(569 words)