The most common business organization in the united states are

The most common business organization in the united states are

Related Posts

This Post Has 6 Comments

  1. The answer is: B. sole proprietorship.

    Approximately, around 70% businesses that exist in united states are sole proprietorship. People tend to choose this over other types because it require very little capital to be established, less government regulations to follow, and the structure of the business is less complicated compared to others.

  2. Option (b) is correct. The most common business organizations in the United States are sole proprietorships.

    Further Explanation:

    Business organization:

    The business organization refers to the business entity that aims at carrying the commercial activities for the purpose of earning the profit. The business organization constantly engaged in a specific commercial activity and tries to generate profit. Majorly, there are four types of business organization:

    1. Sole proprietorship

    2. Partnership

    3. Corporation

    4. Limited Liability Company

    Most common form of business organization in the U.S.A:

    The most common form of business organization is U.S.A is the sole proprietorship. A sole proprietorship is a form of business where there is only one owner of the organization. The owner carries the management related activities and contributes the capital in the firm. The liability of the sole proprietorship is unlimited. It means that in the case of business loss, the owner has to pay from his/her personal assets. The sole proprietorship is the most common type of business organization because of the following reasons:

    1. Total control over business activities

    2. Simple and inexpensive business organization

    3. Privacy

    4. Minimum reporting requirement

    5. Simple tax reporting

    Due to these characterizes, a sole proprietorship is the most popular and common type of business organization.  

    Thus, option (b) is correct. The most common business organizations in the United States are sole proprietorships.

    Learn More:

    1. Learn more about the advantages of sole proprietorship

    2. Learn more about the partnership

    3. Learn more about the types of association

    Answer Details:

    Grade: High School

    Chapter: Sole proprietorship

    Subject: Accounting

    Keywords: most, common, business, organizations, United, States,  

    partnerships, sole, proprietorships, corporations, franchises.

Leave a Reply

Your email address will not be published. Required fields are marked *