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Economics U2P2
Business Structure
| Term | Definition |
|---|---|
| Corporation | a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law. |
| Partnership | business or firm owned and run by two or more partners. |
| Sole Proprietorship | an unincorporated business with one owner who pays personal income tax on profits from the business. With little government regulation, they are the simplest business to set up or take apart. |
| Stock | the capital raised by a business or corporation through the issue and subscription of shares. |
| Shareholder | an owner of shares in a company. |
| Chief Executive Officer (CEO) | administrator in charge of managing a for-profit organization. |
| Chief Financial Officer (CFO) | a corporate officer primarily responsible for managing the financial risks of the corporation. |
| Bankruptcy | A legal proceeding involving a person or business that is unable to repay outstanding debts. |
| Invest | expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property, or by using it to develop a commercial venture. |
| Principal | a sum of money lent or invested on which interest is paid. |
Created by:
MTOMLINS
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