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Which form of business ownership allows for the easiest transfer of ownership?
Practice Questions
Q1
Which form of business ownership allows for the easiest transfer of ownership?
Sole proprietorship
Partnership
Corporation
Limited liability company
Questions & Step-by-Step Solutions
Which form of business ownership allows for the easiest transfer of ownership?
Steps
Concepts
Step 1: Understand what business ownership means. It refers to who owns a business.
Step 2: Learn about different types of business ownership, such as sole proprietorships, partnerships, and corporations.
Step 3: Focus on corporations. A corporation is a type of business that is separate from its owners.
Step 4: Know that ownership in a corporation is represented by shares of stock.
Step 5: Realize that when someone wants to sell their ownership, they can sell their shares of stock easily.
Step 6: Compare this to other types of ownership, where selling or transferring ownership can be more complicated.
Step 7: Conclude that a corporation allows for the easiest transfer of ownership because shares can be bought and sold easily.
No concepts available.
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