Chapter 2 Options for organizing Business Definitions

Chapter 2 Options for organizing Business Definitions -...

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Chapter 2 – Options for organizing Business Definitions Sole proprietorship Business owned and operated by a single individual; the most common form of business organization in Canada. Partnership An association of two or more persons who carry as co-owners of a business for profits. General partnership A partnership tat involves a complete sharing in both the management and liabilities of the business. Corporation A legal entity created by the state whose assets and liabilities are separate from its owners Stock Shares of a corporation that may be bought or sold Dividends Profits of a corporation that are distributed in the form of cash payment to shareholders. Certificate of incorporation A legal document that the province or federal government issues to a company based on information the company provides in the articles of incorporation. Private corporation A corporation owned by just one or a few people who are closely involved in the managing the business (50 or fewer shareholders). Public corporation A corporation whose stock anyway may buy, sell or trade. Subsidiary corporation A corporation in which the majority of stock is owned by another corporation (known as a parent company) Holding company A corporation that controls one or more other corporations through ownership of their common stock. Crown
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Chapter 2 Options for organizing Business Definitions -...

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