Corporations
Objective 3-6 Describe corporations, discuss their advantages and disadvantages, and identify different kinds of corporations; explain the basic issues involved in managing a corporation and discuss special issues related to corporate ownership.
There are about 6 million corporations in the United States. As you can see from Figure 3.5, they account for about 17 percent of all U.S. businesses but generate about 81 percent of all sales revenues.29 Almost all large businesses use this form, and corporations dominate global business. As we will see, corporations need not be large; many small businesses also elect to operate as corporations.
Figure 3.5
Proportions of U.S. Firms in Terms of Organization Type and Sales Revenue
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