BUAD 3040 CH1

BUAD 3040 CH1 - BUAD 3040 CH 1 1.1 Finance: can be defined...

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BUAD 3040 CH 1 1.1 Finance: can be defined as the art and science of managing money. Financial services: is the area of finance concerned with the design and delivery of advice and financial products to individuals, business, and government. Financial managers: actively manage the financial affairs of any type of business--- financial and nonfinancial, private and public, large and smack, profit-seeking and not-for-profit. Managerial finance: is concerned with the duties of the financial manager in the business firm. The three most common legal forms of business organization are the sole proprietorship, the partnership, and the corporation. A sole proprietorship is a business owned by one person who operates it for his or her own profit. The sole proprietorship has unlimited liability. A partnership consists of two ot more owners doing business together for profit. Most [partnerships are established by a written contract known as articles of partnership. In a general (or regular) partnership, all partners have unlimited liability, and each
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BUAD 3040 CH1 - BUAD 3040 CH 1 1.1 Finance: can be defined...

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