You will use your triple bubble map to compare and contrast the characteristics of the three types of business organizations. So please begin by drawing the three center bubbles as shown below.

Then, using sections one through three of chapter eight in your textbook and/or your notes on business organizations, please place the following descriptors appropriately on the bubble map. That is, a description that applies to both a sole proprietorship and a partnership should be listed between those two ovals somewhere (above or below does not matter). A descriptor that applies only to corporations, on the other hand, should be listed to the right of the corporations oval.

1. separate legal entity

2. sells stocks

3. sells bonds

4. long life

5. limited life

6. easy to set up

7. difficult to set up

8. easy to raise capital

9. difficult to raise capital

10. limited liability

11. unlimited liability

12. joint and several liability

13. flexible decision making

14. keeps all profits

15. must share profits

16. profits are taxed once

17. profits are taxed twice

18. difficult to become large

19. easy to become large

20. limited managerial experience

21. substantial managerial experience

22. easy to attract top talent

23. difficult to attract top talent