GBS151 Chapter Notes - Chapter 4: Sole Proprietorship, S Corporation, Regional Policy Of The European Union
27 Jun 2019
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Chapter 4: choosing a form of business ownership. If you plan on opening your own business this chapter helps you to know how and why businesses are organized. 2: discuss the purpose of a joint venture and syndicate, explain how growth from within and growth through mergers can enable a business to expand. Vocabulary in this chapter: sole proprietorship, unlimited liability, partnership, general partner, limited partner, corporation, stock, stockholder, closed corporation. Is a business that is owned and most of the time operated by one person. Most are small businesses well few can be large with lots of employees. Large corporations such as: walmart, jcpenney, and procter & gamble. Company started as small (some struggling) sole proprietorships. In relative percentages of sole proprietorships, partnerships, and corporations there is about 24. 1 million sole proprietorships in the u. s. This counts for 72% of the country"s business firms.
