The Three Types Of Businesses

"Which one are you"

Other Terms

Defintions

Limited liability- It means that the business owner is not personally responsible for business debts and obligations of the corporation.

Unlimited liability- refers to the legal obligations general partners and sole proprietors because they are liable for all business debts if the business can't pay its liability.

Stock- The goods or merchandise kept on the premises of a business or warehouse and available for sale or distribution

Dividend- A sum of money paid regularly by a company to its shareholders out of its profits.

Board Of Directions- A body of elected or appointed members who jointly oversee the activities of a company or organization.

Most Common

The most common business organization is sole proprietorship.