PARTNERSHIPS AND CORPORATIONS (7)
	B. Partnerships               1.  Advantages                    a) Organization                    b) Potential Growth                    c) Abilities               2.  Disadvantages                    a) Unlimited liability                    b) Limited life                    c) Limited funds                    d) Organization         C. Corporations               1.  Advantages                    a) Limited Liability                    b) Ease of Transfer                    c) Unlimited Life                    d) Ability to raise funds               2.  Disadvantages                    a) Expense                    b) Taxation                    c) Regulations   VI  Special Types of Business Organization         A.  S Corporations         B.  Limited Liability Companies         C.  Not-for-Profit Corporations         D.  Government-Owned Corporations         E.  Cooperatives         F.  Franchises VII  How Corporations are Organized        A.  Stockholders        B.  Board of Directors        C.  Annual Corporation Report        The test will be two days after we complete the chapters.  Turn in the                homework for each chapter at the time of the test.