Podcast Beta
Questions and Answers
The organization plan provides a detailed description of the business in terms of the following: 1. Form of the business organization 2. Liability of the owner or owners 3. ______ structure 4. Roles and responsibilities 5. Salary requirements
Organizational
A business organization can come in the form of a sole proprietorship, a partnership, or a ______. There must be a purpose for the selection of the most appropriate business form.
corporation
This section describes the extent of the owner's financial obligations with creditors. The creditors can be in the form of individual persons, suppliers of raw materials and supplies, or financial institutions. The extent of financial liability can either be ______ or unlimited.
limited or unlimited
