Forms of Business Organization

question 74

Essay

Forms of business organization
Identify at least two (2) common forms of business organization. For each business structure name an associated pro and con.

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Definitions:

Asset Test

An asset test is a method of determining an individual's or entity's eligibility for certain financial assistance programs based on the value of their assets.

Segment Manager

A manager responsible for overseeing a specific part of a company, such as a department or product line, to ensure its profitability and efficiency.

Chief Operating Decision Maker

An individual or group within an organization primarily responsible for making operational decisions and allocating resources.

Organizational Units

The distinct segments within a company or institution, often defined by function, geography, or product line, that operate to achieve specific objectives.