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Finance

The business organization is an entity that contains many divisions. The three divisions that will be explained are the sole proprietorship, the partnership, and the corporation. To further explain the corporation the goal of the financial manager will be stated as well as the objective of the corporation.

The sole proprietorship is the oldest form of a business organization. This division is owned and operated by one individual. The organization of a sole proprietorship can be informal, is normally considered simple to control and manage, and does not have much regulation from the state or the federal government. (Mauro, nd) This division also experiences unlimited liability meaning they are solely responsible for all debts incurred. In a partnership there can be two or more partners who are responsible for all aspects of the business; profits, liabilities, management, and assets. These partnerships are formed by individuals who will hopefully bring different......


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Approximate Word Count: 499
Approximate Pages: 2 (250 words per double-spaced page)

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