Answer to Question #298629 in Management for Ann

Question

There are three (3) basic forms of business organizations. They are sole proprietorship, partnership and corporation. Which do you think is a better form of business organization?

Answer 1

I think the most better form of business organization is the sole proprietorship as it is the simplest form of ownership for a sole owner and requires little more than a tax ID number. However, when there are concerns over taxation or liability issues, or when the business has multiple owners, other organization types should be considered.