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In which business structure do owners have limited control over management decis
In which business structure do owners have limited control over management decisions?
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In which business structure do owners have limited control over management decisions?
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In a corporation, owners (shareholders) have limited control over management decisions, which are made by a board of directors.
Questions & Step-by-step Solutions
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Q: In which business structure do owners have limited control over management decisions?
Solution:
In a corporation, owners (shareholders) have limited control over management decisions, which are made by a board of directors.
Steps: 6
Show Steps
Step 1: Understand what a business structure is. It refers to how a business is organized and managed.
Step 2: Identify the different types of business structures, such as sole proprietorships, partnerships, and corporations.
Step 3: Focus on corporations. In a corporation, the owners are called shareholders.
Step 4: Learn that shareholders own shares of the company but do not manage it directly.
Step 5: Recognize that management decisions in a corporation are made by a group called the board of directors.
Step 6: Conclude that because shareholders do not make daily management decisions, they have limited control over how the business is run.
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