The three major forms of business organizations are: 1. Sole Proprietorship 2. Partnership & 3. Corporation Sole Proprietorship: Ownership : In this form of organisation the ownership lies with a single person i.e. the proprietor of the buiness. Along with the ownership all the liabilities and responsibilities are with the sole proprietor of the organisation Partnership: Ownership: In a partnership form of organisation more than one person come together to form a business and all of them bring in capital in a decided proportion and they own such decided portion of the organisation. They share liabilities and responsibilities in the pre determined proportion i.e. profit sharing ratio It is managed by all the partners together or by any working partner as decided by all of the partners. Corporation : Many people contribute to the Capital of the organisation and the management lies with the directors and the management ho are elected by the shareholders and are completely answerable and responsible to all the stakeholders. Solution The three major forms of business organizations are: 1. Sole Proprietorship 2. Partnership & 3. Corporation Sole Proprietorship: Ownership : In this form of organisation the ownership lies with a single person i.e. the proprietor of the buiness. Along with the ownership all the liabilities and responsibilities are with the sole proprietor of the organisation Partnership: Ownership: In a partnership form of organisation more than one person come together to form a business and all of them bring in capital in a decided proportion and they own such decided portion of the organisation. They share liabilities and responsibilities in the pre determined proportion i.e. profit sharing ratio It is managed by all the partners together or by any working partner as decided by all of the partners. Corporation : Many people contribute to the Capital of the organisation and the management lies with the directors and the management ho are elected by the shareholders and are completely answerable and responsible to all the stakeholders..

1. The three major forms of business organizations are:
1. Sole Proprietorship
2. Partnership &
3. Corporation
Sole Proprietorship: Ownership : In this form of organisation the ownership lies with a single
person i.e. the proprietor of the buiness. Along with the ownership all the liabilities and
responsibilities are with the sole proprietor of the organisation
Partnership: Ownership: In a partnership form of organisation more than one person come
together to form a business and all of them bring in capital in a decided proportion and they own
such decided portion of the organisation. They share liabilities and responsibilities in the pre
determined proportion i.e. profit sharing ratio
It is managed by all the partners together or by any working partner as decided by all of the
partners.
Corporation : Many people contribute to the Capital of the organisation and the management lies
with the directors and the management ho are elected by the shareholders and are completely
answerable and responsible to all the stakeholders.
Solution
The three major forms of business organizations are:
1. Sole Proprietorship
2. Partnership &
3. Corporation
Sole Proprietorship: Ownership : In this form of organisation the ownership lies with a single
person i.e. the proprietor of the buiness. Along with the ownership all the liabilities and
responsibilities are with the sole proprietor of the organisation
Partnership: Ownership: In a partnership form of organisation more than one person come
together to form a business and all of them bring in capital in a decided proportion and they own
such decided portion of the organisation. They share liabilities and responsibilities in the pre
determined proportion i.e. profit sharing ratio
It is managed by all the partners together or by any working partner as decided by all of the
partners.
Corporation : Many people contribute to the Capital of the organisation and the management lies
with the directors and the management ho are elected by the shareholders and are completely
answerable and responsible to all the stakeholders.