Which of the following legal forms of organization has the ease of dissolution?

Question

Quizplus · Accepted Answer

Sole proprietorships are the easiest forms of organization to dissolve as they are not separate legal entities from their owners. The owner simply needs to cease doing business and liquidate assets if necessary. Partnerships and limited partnerships require more formal dissolution procedures, including notifying all partners and creditors, and filing dissolution paperwork with the state. Corporations also require formal dissolution procedures, including board approval, shareholder approval, and filing articles of dissolution with the state.

Which of the Following Legal Forms of Organization Has the Ease