Sole proprietorship
A business owned by one person
What is sole proprietorship?
to explain
What does clarify mean?
each partner have limited liability
Does each partner have limited liability?
A business that is owned by a group of people and operates under a license.
What is a corporation?
a company that has permission to sell the supplier's goods or services in a particular area in exchange for a sum of money.
What is a franchise?
The money needed to run a business or expand it.
What is a financial capital?
General partnership and limited partnership
What are the two types of partnerships?
If equipment from a business hurt you, you can sue them.
If some equipment from a business, hurt you in some way, could you sue them?
Gives a group of people permission to form a corporation
What does charter mean?
A business that doesn't intend to make a profit for the goods and services it provides.
What is a nonprofit organization?
A legal responsibility for a business.
What is a liability?
To raise more money
What is the biggest advantage that partnership have over sole proprietorship?
100 percent
What percent would you pay if you caused damages to someones property?
the people directed by the shareholders of a coropation to act on their behalf
What is a board of directors?
When a stockholder dies, his or her family will keep the stock.
When a stockholder dies, does his or her family get to keep the stock?
Sole proprietorship have some disadvantages.
Does Sole proprietorship have disadvantages?
Each partner bring special talent to the business.
What is another advantage of partnership?
If a patient in a hospital was injured, it would be from the doctors actions.
If a patient gt injured in a hospital, would it be from the doctor's actions?
Shareholders or stockholders.
The owner gives the supplier a share of the profits.
Does the owner give the supplier a share of the profits?
A business that two or more people own and operate together.
What is partnership?
Partnership has more than one owner.
Does partnership have more than one owner?
The main drawback of a general partnership is the same as that of a sole proprietorship
What is the main drawback of a general partnership?
Stockholdes are not involved in day to day operation of the company
Are stockholders involved in day to day operation of the company?
Public schools, public hospitals, labor unions, boy scouts, and girl scouts.
What are examples of nonprofit organizations?