This preview shows page 1. Sign up to view the full content.
Unformatted text preview: man- ager works with multiple players inside and outside the firm to
create and preserve the economic value of the firm’s assets. LO6 Explain how the finance manager interacts with both internal and
Business activities are accomplished by a diverse set of players turing, human resources, supporting suppliers, and customers
inside and outside the organization. The finance manager pro- and interfaces with agencies like banks to meet the needs of
vides critical knowledge and guidance to marketing, manufac- the company. LO7 Delineate the three main legal categories of business organizations and their
respective advantages and disadvantages.
There are three main legal categories of business organizations: sole proprietorship, partnership, and corporation. The
key advantage of the corporate form of business is the limited
liability of the shareholders (owners). The key disadvantage is
double taxation, in which profits are taxed both before and after distribution to owners. The key advan...
View Full Document
This note was uploaded on 11/03/2012 for the course FIN 3100 taught by Professor Gillette during the Fall '08 term at Kennesaw.
- Fall '08