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CH 3] Business 101 3-1

Chapter 3

3

Forms of Business Ownership

Objectives
Master the material in this chapter and you will be able to:

1. Describe the three basic forms of business ownership.

2. Define the advantages and disadvantages of sole
proprietorships.

3. Discuss the advantages and disadvantages of partnerships.

4. Explain the differences between general partnerships and
limited partnerships.

5. Discuss the advantages and disadvantages of corporations.

6. Describe how a corporation is organized and operated.

7. Define vertical, horizontal, and conglomerate mergers.

8. Explain the recent trends influencing corporate
organizations.

9. Describe the differences among private ownership, public
ownership, and cooperative ownership.

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