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943 2023-2025 Form

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hey guys I am Derek welcome to my channel in this video I'm going to explain to you the legal forms of business organization there are three common forms of business organization including sole proprietorship that is one person business partnership a group of people like friends and family doing business together Corporation basically a big company that is allowed to sell shares under sole proprietorship it has no legal status which means the owner and the business are not separated honor is the business business is the owner anything good or bad happens to the business will affect the owner maximum owner allowed for sole proprietorship is only one person it cannot have more than one owner sole proprietorship has unlimited liabilities which means if the business is not able to pay back a debt the owner will have to use his own money to pay for the debt if the business is bankrupt the owner may become bankrupt as well next all the properties and assets of company are owned by th

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