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7 Cards in this Set
- Front
- Back
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sole proprietorship
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A business owned by one person. It is simple to set up and gives you control over the business.
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partnership
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A business owned by two or more persons associated as partners. Often are formed because one individual does not have enough economic resources to initiate or expand the business.
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corporation
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A business organized as a separate legal entity owned by stockholders. As an investor in a corporation you receive shares of stock to indicate your ownership claim.
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marketing managers, production supervisors, finance directors, and company officers
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internal users
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Investors, Creditors, Taxing authorities, Customers, Labor unions, and Regulatory agencies
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external users
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liabilities
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Amounts owed to creditors—in the form of debt and other obligations.
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Common stock
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the total amount paid in by stockholders for the shares they purchase.
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