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What are the advantages and disadvantages of proprietorships, partnerships, and corporations?

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Romarie Khazandra Marijuan
Romarie Khazandra MarijuanLv10
28 Sep 2019

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Related questions

There are over 30 million firms in the U.S., of which about 5.8 million are corporations. A mere 35,000 of these corporations have annual sales of over $50 million, and this relative handful of corporations, commonly thought of as "big business", account for over 80% of total corporate profits in this country. Are those millions of other corporations, sole proprietorships, and partnerships outside of big business fairly insignificant to the U.S. economy then? If not, then what is the importance of these smaller companies to the national economy?

1. Which of the following describes most businesses in the United States?
A. Proprietorships
B. Partnerships
C. Corporations
Ā 
2. Business structures where the ownership and management are separate, as with corporations, are likely subject to principal-agent problems. Which of the following may help reduce such problems and promote cost efficiency? Check all that apply.
A. Profit-sharing agreements with managers
B. Competition among firms for customers
C. Competition among firms for investment funds
Ā 

As distinguished from sole proprietorships and partnerships, why is the corporation type of legal organization so valuable to a firm? Is the corporation type of legal form a right or is it a privilege?

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