The Three Types Of Businesses
"Which one are you"
Has a single owner, who takes all the risks and receives all the profits. Ex: Michael Jordan owns the Jordan brand.
Divides the risks and profits of a business among two or more people. Ex: Willie and Day Day opened Bro's Barbecue.
Issues shares of stock to investors. Ex: Coca Cola
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.