Define terms proprietorship partnership and corporations, Financial Management

Assignment Help:

Briefly define the terms proprietorship, partnership, and corporation.

A proprietorship is a business possessed by one person.

Two or more people who unite together to form a business make up a partnership. This can be done on an informal foundation without a written partnership agreement, or a contract can spell out the responsibilities and rights of each partner.

A restricted liability company is a hybrid between a corporation and a partnership.  Profits and losses pass through to the members.  Members generally enjoy limited liability.

Corporations are legal entities that are separate from their owners. To form a corporation the owners stipulate the governing rules for the running of the business in a contract known as the articles of incorporation. They propose the articles to the government of the state in which the corporation is formed, and the mention issues a charter that creates the separate legal entity.

 

 


Related Discussions:- Define terms proprietorship partnership and corporations

Define supply curve for a good is totally inelastic, Suppose the supply cur...

Suppose the supply curve for a good is totally inelastic.  If the government imposed a price ceiling below the market-clearing level, would a deadweight loss result?  Explain.

Cash management control, I need a report on the topic Cash Management Contr...

I need a report on the topic Cash Management Control. Can you please assist me for Cash Management Control report for about 2500 words?

Explain difference among the discounted free cash flow model, Explain the d...

Explain the difference among the discounted free cash flow model as it is applied to the valuation of common equity and as it is applied to the valuation of whole businesses. The

Which type of insurance company generally takes risks, Which type of insura...

Which type of insurance company generally takes on the greater risks: a life insurance company or a property and casualty insurance company? The risks protected against by cas

Revenue bonds, Revenue bonds are the securities issued for financing ...

Revenue bonds are the securities issued for financing an entity for general      public-purpose. The securities issued for entity financing are backed up with the

Describe about accountants report, Q. Describe about Accountants Report? ...

Q. Describe about Accountants Report? Accountants' Report - Formal document which communicates an independent accountant's: (1) expression of limited assurance on FINANCIA

Difference euronote market and euro medium term note market, What is the di...

What is the difference between the Euronote market, the Euro-medium-term-note market, and the Eurocommercial paper market? Answer:  Euronotes are short-term notes guarantees by

Define pro forma financial statements and cash budget, What is the differen...

What is the difference among pro forma financial statements and a cash budget?  Explain why pro forma financial statements are not employed to forecast cash needs. Pro forma inco

Leverage, evaluate the importance of leverage in financial management of a ...

evaluate the importance of leverage in financial management of a small scale company

Defien the term ension funds, Pension funds Pension funds offers retire...

Pension funds Pension funds offers retirement income in the form of annuities to employees covered by a pension plan. They obtain contributions from employers or employees and

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd