Identify the Three Common Forms of Business Organization and the Primary

question 24

Essay

Identify the three common forms of business organization and the primary difference in the way we account for them.

---

Definitions:

Arbitrarily

Acting based on random choice or personal whim, rather than any reason or system.

Licence To Practise

A formal permission granted to an individual or organization to engage in a profession or activity that is regulated by law.

Administrative Bodies

Organizations or agencies created to implement and manage government policy, regulations, and public programs.

Hearing

A legal proceeding where arguments, evidence, and testimonies are presented to a judicial authority to resolve a dispute.