TABLE 4.3 BUSINESS ORGANIZATIONS AND THEIR RECEIPTS Number (Thousands) Percent o

Question

TABLE 4.3 BUSINESS ORGANIZATIONS AND THEIR RECEIPTS

Number (Thousands)

Percent of Total

Business   Organizations

Receipts(Billions)

Percent of Total

17,409

Sole   Proprietorships   

$1   ,918   

1,855

Partnerships

1,534

4,849

Corporations

16,543

1.    Complete the table by calculating and filling in the percentages of total number and total receipts for each type of business organization. Use the information contained in the completed table and in the text to answer the following questions.

2.    According to the table, how many sole proprietorships are there? Partnerships? Corporations?

3.    Compare the earnings of those three types of business organizations. Which has the greatest earnings? The smallest?

4.    How would you explain the fact that with such a small percentage of the total number of business firms, corporations account for such a large percentage of business earnings?

Explanation / Answer

17,409,000 + 1,855,000 + 4,849,000 = 24,113,000 in total % of sole proprietary = 17,409,000/24,113,000 = .72 = 72% % of partnership = 1,855,000/24,113,000 = .076 = 7.6 % % of corporations = 4,849,000/24,113,000 = .20 = 20% receipts : 1,918,000,000 + 1,534,000,000 + 16,543,000,000 = 19,995,000,000 in total % of sole proprietary = 1,918,000,000/19,995,000,000 = .0959 = 9.6% % of partnership = 1,534,000,000/19,995,000,000 = .0767 = 7.7% % of corporation = 16,543,000,000/19.955,000,000 = .829 = 83% 2. sole proprietorships = 17,409,000 partnerships = 1,855,000 corporations = 4,849,000 3. greatest earnings = corporations smallest earnings = partnerships

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.