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Which form of business gives the owner the most control over operations and which form of...

Which form of business gives the owner the most control over operations and which form of business would offer the owners the least control?

Please no handwritten answer as I find some peoples handwriting impossible to read.

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Answer #1

A sole proprietorship business gives the owner the maximum control over the business and all the profits and losses are borne by the proprietor. He is responsible for all the decisions of the business and is usually on a small scale.

The least control is excercised by the partners of a limited liability partnership where each of the partners can either choose to be an active part in the day to day running of the business by being a part of the board or be a sleeping partmpa where they do not take part in the day to day running of the business. The profits and losses are borne by the partners upto the amount of capital invested by them into the business.

Therefore, the most preferable form of business is a limited liability partnership where the partners of the company are not personally liable in case of losses.

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