Your Daily Business
Raven Burnam
BUSINESS! BUSINESS! BUSINESS!
Businesses play a vital role in our society and economy. They provide goods and services to consumers and because if consumers the businesses get money which in turn helps to strengthen the economy.
SOLE PROPRIETORSHIP
The simplest business form where the owner controls everything.
Dan is the the only owner of his landscaping business is a real life example of sole proprietorship.
PARTNERSHIP
A business owned and run by two or more partners.
Larry Page and Sergey Brin partnering up to create Google is a real life example of a partnership.
CORPORATION
A large business or organization that has the rights and duties of an individual and follows a specific purpose.
Best Western Hotels are real life examples of a corporation.
TERMS TO KNOW
Limited Liability - responsibilities are few
Unlimited Liability - all the responsibilities fall on one person.
Stock - a certificate of ownership in a corporation.
Dividend - portion of corporate profits paid out to stockholders.
Board of Directors - the body of elected members that oversee the the activities of a company of organization.
THE GOVERNMENT REVEALS THE MOST COMMON FORM OF BUSINESS!
Found in recent economic studies, the government revealed to the nation that the most common form of business in the United States is a Sole Proprietorship.
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