What are advantages and disadvantages of the various business organizations discussed in the text?

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As the text notes, many small businesses are set up as sole proprietorships. Is this a good idea, and why or why not? What are advantages and disadvantages of the various business organizations discussed in the text? If you were setting up a small business, which would you choose and why? Do you think it is fair that small business owners may be able in some cases to avoid personal liability for acts taken on the part of their business and why or why not?






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