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13 Cards in this Set
- Front
- Back
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an establishment formed to carry on commercial enterprise
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business organization
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a business owned and managed by a single individual
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sole proprietorship
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authorization to start a business issued by the local government
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business license
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law in a city to town that designates seperate areas for resiency and or business
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zoning law
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the legally bound obligation to pay debts
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liablity
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payment other than wages or salaries
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fringe benefit
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a business organization owned by two or more persons who agree on a specific division of responsibilities and profits
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partnership
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partnership in which partners share equally in both responsibility and liability
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general partnership
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partnership in which only one partner is required to be a general partner
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limited partnership
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partnership in which all partners are limited partners
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limited liability partnership (LLP)
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a partnership agreement
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articles of partnership
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act ordering common ownership interests, profit and loss, sharing, and shared management responsiblities in a partnership
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Uniform Partnership Act (UPA)
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money and other valuables belonging to an individual or business
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assets
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