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| With group: DRHS Economics | |
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| Term | Definition |
|---|---|
| Sole Proprietorship | The simplest form of business organization; a firm that is owned and managed by one person, but sometimes hires other workers |
| Liability | The legal obligation to pay any debts of the business |
| Partnership | Two or more people agree to contribute resources to the business in return for a share of the profit |
| General Partnership | Partners share both in the responsibility of running the business and in any liability from its operation |
| Limited Partnership | At least one general partner runs the business and bears unlimited personal liability; other partners provide financial capital but have limited liability |
| Terms | 5 |
| Creator | mjdolenko |
| Created | October 11, 2009 |
| Group | DRHS Economics |
| Subject | economics |
| Access | Anyone |
| Edit | Creator Only |