Three type of business organiztion
An association of two or more people as partners.
I have a roommate in college.
limited liability-it means that he or she is not personally responsible for business debts and obligations of the corporation.
unlimited liability- to the legal obligations general partners and sole proprietors because they are liable for all business debts if the business can't pay its liabilities.
stock dividend-is an increase in the amount of shares of a company with the new shares being given to shareholders.
board of directors-is a body of elected or appointed members who jointly oversee the activities of a company or organization