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8 Cards in this Set
- Front
- Back
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Sole proprietorship
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A business owned and operated by one person
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Sole proprietor
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Owner of a sole propietorship
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Personal liability
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Liability extending beyond what is invested in a business to an individual's personal assets (also called unlimited liability)
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Capital
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Money used to form and operate a business or other venture
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Fictitious name
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A name that must be registered with state or local officials because it does not disclose the surname of the business owner
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DBA
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"Doing business as", another name for a fictitious business name statement
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Fictitious business name statement
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Record filed with public officials to identify the owner of a business operating under a name other than the owner's surname
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Keogh plan
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A retirement plan for sole propietors
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