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1. What are the four forms of business entities/organizations? Compare the characteristics of each business entity in terms of the following:
• Define the form of business entity• Formation of the business entity• Whether it is a Separate legal entity / not a separate legal entity• Advantages and disadvantages of the business entity• Ownership of the business entity• Management of the business entity• Liability of the business entity• Dissolution and Continuation of the business entity
2. Give detailed information on a real life example for each form of business organizations.
(In question2 you need to provide a real life example of the business entity. Not a hypothetical example. Mention a name of a real business or a real company. You can provide the website of the company in your references.)
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The audit partner on the engagement.
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