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8 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Partnership |
Is a contract whereby two or more persons bind themselves to contribute 💰. The owners of the partnership are called patrtners |
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Corporation |
Is an artificial being created by operation of law, having the right of succession.
It is formed by at least five but not more than fifteen persons called incorporators.
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Sole Proprietorship |
Is the simplest form of business organizations. It is goes and owned by only one person who is called a proprietor. 👩💼 |
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Cooperative |
Is another legal form of business organizations. It has its own set of board of directors and officers. Each member of a cooperative is only entitled to one vote. |
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Service Organizations |
Are those business firms which are engaged in rendering services. |
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Trading or merchandising |
Are those business firms which are engage in the buying and selling of goods in the same form. |
As to purpose |
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Manufacturing firms |
Are those companies engaged in buying raw materials and making them into new items called finished goods. |
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Agriculture |
Concerned with planting of crops or raising animal,s and selling either in raw or finished form at a profit. |
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