sole proprietorship
a business owned and managed by a single individual
business organization
the ownership structure of a company or firm
liability
the legal obligation to pay debts
fringe benefits
payments to employees other than wages or salary
LLP (Limited Liability Partnership)
all partners are limited partners, business is managed by partners (not a board), no responsibility for actions of other partners
assets
the money and other valuables belonging to an individual or business
stock
a certificate of ownership in a corporation
dividend
the portion of coporate profits paid to stockholders
Corporation
form of business that declares the business as a separate, legal entity guided by a group of officers known as the board of directors
shares (of stock)
units of ownership in a corporation (I.e. own a share of Nike)