A business owned by one person

Easiest to start; Least regulated; Single owner keeps all the profits; Taxed once as personal income

unlimited liability, lack of money, limited management skills, difficulty in hiring employees

a business organization owned by two or more persons who agree on a specific division of responsibilities and profits

Each owner brings expertise; More capital available; Relatively easy to start; Income taxed once as personal income

Decision are made jointly; limited life; unlimited liability; profits shared

A business treated as its own legal entity; owned by stockholders who share in its profits but are not personally responsible for its debts

Unlimited life; Easy transfer of ownership; Limited liability; Ease of raising capital

double taxation; cost of setup and report filing

A business that is set up as a tax-free organization whose profits are returned to the organization to further its mission.

Certificates of debt that carry a promise to buy back the bonds at a higher price

the most basic form of ownership, including voting rights on major issues, in a company

non-voting ownership in a company that gets dividends first; less risky because it first to get money back if business fails.

people or entities that own stock in a corporation and therefore are its owners

A business that is owned by the members it serves and is managed in their collective interest.

earnings distributed to stockholders

means that the owner is personally and fully responsible for all losses and debts of the business

the legal right for a business to conduct operations as a corporation

a nonprofit organization of workers that tries to improve working conditions, wages, and benefits for its members

a nonprofit organization seeking to further a particular profession, the interests of individuals engaged in that profession and the public interest.

an owner who invests money in the business but does not have any management responsibility or liability for losses beyond the investment

A nonprofit financial institution that is owned by its members and organized for their benefit.

A form of business ownership in which the owners are liable only up to the amount of their individual investments.

situation in which a firm ceases to exist when an owner dies, quits, or sells the business

combination of two or more firms producing the same kind of product

the combination of two or more firms involved in different stages of producing the same good or service

The amount of money borrowed

money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.

feature of taxation that allows stockholders' dividends to be taxed both as corporate profit and as personal income