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Identify the Three Most Basic Forms of Legal Organization Used

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Essay

Identify the three most basic forms of legal organization used by small businesses. What are the factors one must consider when choosing a legal form of organization?


Definitions:

Net Income

The remaining profit for a company after subtracting total expenses, taxes, and costs from its total income.

Items Count

A measure or total of individual things or components.

Physical Inventory

The process of counting all physical goods and materials a company has in stock at a specific point in time.

Items Count

The process of tallying items in inventory, usually for the purpose of ensuring accuracy in stock levels and financial records.

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