These businesses are owned by one person usually the individual who has day-to-day responsibility for running the business.

Example of forms of business organization. Sole proprietorship partnership corporation and Limited Liability Company or LLC. Some examples of cooperatives are. 5 not for profit organizations not for profit organizations are also referred to as nonbusiness entities.

There are three 3 main forms of business organization. The various forms of organization are as follows. Example of forms of business organization.

CHARACTERISTICS Oldest form of business organization The business enterprise is owned by one single individual ie. There are 4 main types of business organization. What are the five forms of business organizations.

Examples of cooperatives are. This type of business buys products at wholesale price and sells the same at retail price. In addition to these basic forms of business ownership these are some other types of organizations that are common today.

The persons making up the group are called members. 1 Sole proprietorship 2 Partnership 3 Co-operative Society 4 Joint stock company Private and Public These are explained in brief as follows-31 OBJECTIVES At the end of this lesson you will be able to know z Various forms of organization. The Sole Proprietorship Concern 2.

The people making up the group are members. They are known to create goods and services and job opportunities that would otherwise not be available in the countries in. Forms of Business Organization There are different forms of business organizations available today including sole proprietorship statutory bodies co-operative societies Hindu Undivided Family business LLP Limited Liability Partnership companies and partnership firms.