legal Structures
This business is owned and operated by one person who reaps all the benefits and bears all the risk
Sole Trader
A lump sum of money occupied with the intention of repayment at a later date.
Loan
Anything owned and controlled by a company
Asset
A one of a kind non-fungible token exchanged between a creator and buyer digitally
What is an NFT?
Jeff Bezos
Who is the founder of Amazon?
Two or more persons usually compose a deed, come together to achieve the common goal of usually earning a profit.
Partnership
This can be sold on the stock exchange or to family and friends
Shares
Anything owed by the company
liability
Trading one identical unit for another
What is fungible?
Mark Zuckerberg
Who is the founder of Facebook?
Members come together to achieve a common goal that is not solely profit related
C-operative
These stock holders are paid first .
Preferred Stock Holders
This is known as the accounting formula
Assets= liabilities + Capital/ Capital= Assets - liabilities
Trading unique/one of a kind unit that cannot be replaced
What is non-fungible
Bill Gates
Who is the founder of Microsoft?
A document that is used to govern the internal affairs of a limited liability company
Memorandum of Association
A debt instrument, with a promise to pay back with interest. These are secured
Bond
The second step in the accounting cycle.
Enter into the books of prime journal entry
The original and leading cryptocurrency
What is Bitcoin?
Steve Jobs
Who is the founder of Apple?
This business Provide returns to investors. These returns are taxed twice
Public Limited Company
A person who buys and sells assets or goods for others
Broker
An increase in cash is recorded as _____________ a transaction in a ledger.
Debit
A decentralized ledger of all transactions across networks
What is a blockchain?
Who is the founder of Google?