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chap 1.1 Alg Fin
Algebra with Finance
Term | Definition |
---|---|
Capital | The money used to start or expand a business |
sole proprietorship | A business owned by one person |
Profit | The money left after all expenses are paid |
Partnership | A business that is owned by a group of people, called partners, |
corporation | a business organization that can be owned by one person or a group of people |
public corporation | When anyone can purchase stock in a corporation |
personally liable | A business owner who is personally responsible for the debts of the business whether or not there is a profit |
Shares of Stock | represents a share of ownership in a corporation |
Shareholders | People who own shares of stock in a corporation |
limited liability | Not being able to lose any more than the value of owned shares if a corporation fails or does not make a profit. |