Chapter 25
c corporation
The most common type of corporation, which is a legal business entity that offers limited liability to all of its owners, who are called stockholders
unlimited liability
The owner is personally and fully responsible for all losses and debts of the business
nonprofit corporation
a corporation that does not seek to earn a profit and differs in several fundamental respects from C corporations
Subchapter S Corporation
a corporation that is taxed like a partnership
divident
a stockholder's share of a company's profits, usually as a cash payment
partnership agreement
a written agreement among all owners
partnership
A business in which two or more persons combine their assets and skills
limited liability company
A business organization in which the business (not the owner) is liable for the company's debts
cooperative
A business that is owned by the members it serves and is managed in their interest.
limited liability
A form of business ownership in which the owners are liable only up to the amount of their individual investments.
liability
An amount owed by a business
shareholders
Investors who purchase shares of stock in a corporation.
legal structure
The way a business is set up for legal or tax purposes, such as a corporation, cooperative, or sole proprietorship.
Sole Proprietorship
a business owned and managed by a single individual
share of stock
each unit of ownership in a corporation
limited partnership
partnership in which only one partner is required to be a general partner
general partnership
partnership in which partners share equally in both responsibility and liability
stockholders
people or entities that own stock in a corporation and therefore are its owners
incorporate
to bring together features, ideas, or elements