Business Organzations
By: Jamyia Prothro & Derrick Odom
3 Types Of Business Organzations
A Sole Proprietorship has a single owner, who takes all the risks and receives all the profits.
A Partnership divides the risks and profits of a business among two or more people.
A Corporation issues stock to investors.
Definitions
Limited Liability - Situation in which a shareholder is not responsible for a corporation's debts.
Unlimited Liability-Situation in which a business owner is responsible for all the business's debts.
Stock- Shares of ownership in a corporation.
Dividend- A shareholder's share of a corporation's profits.
Board of Directors- People who are elected by shareholders to run a corporations.