Buisness

Advantages of Sole Proprietorship

Inexpensive to form, Owner maintains full authority over business, Owner keeps all profits

Advantages of a corporation

Limited liability, Capable of raising funds, Continued life, and Many decision makers

Disadvantages of Partnership

Possibility of disagreements, Unlimited liability, and Limited life

Define Corporate Bylaw

Rules that explain how the business will be conducted by a corporation.

Stock

a share in ownership and a claim to a portion of a corporation's profits.

Corporation

business owned by stockholders who share in profits and losses.

General Partnership

gives the owners full control over management,
operations, and business decisions regarding the company;

Dividend

Stockholders recieve a portion of a corporation's income

Business Model

a plan for making a profit

Know the diffrence between a profit and not for profit buisness

A profit business is an organization that generates income for its owners. For-profit companies have the goal to make more money than they spend on producing goods and services. Not-for-profit businesses are companies that are created to benefit the public interest.

the role of the board of directors in a corporation

a group of individuals who represent stockholders and
make high-level policy and management decisions for a corporation. The board chooses a chief executive order, known as a CEO, to handle the daily operation of the business. The board of directors is also responsible for writing corporate bylaws.

scenario and have to choose which form of business ownership makes the most sense and be able to explain

I beleive partnership would be the best form of ownership. It would be the best becasue it's affordable, you would know the person and most likely have the same mindset. It would also be easy because you will have more avaliable captial and more money left over for you.

what impacts the way a business is organized

Business Models