Business 101 Test 2
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6 Terms
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Sole Proprietorship
When a business is owned by a single individual
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Partnership
When two or more people serve as co-owners of the business
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Coporation
When the business is a separate legal entity
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Limited Liability Company
a hybrid with characteristics of both a
corporation and partnership
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Shareholder/Stockholder
An owner of a corporation
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Board of directors
The individuals whom the stockholders of a corporation elect to represent their interests
Note 
Flashcards (56)