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The area of finance concerned with the design and delivery of advice and financial products to individuals, businesses, and governments.
A business owned by two or more people and operated for profit.
articles of partnership
The written contract used to formally establish a business partnership.
Concerns the duties of the financial manager in a business.
A business owned by one person and operated for his or her own profit.
The science and art of managing money.
The owners of a corporation, whose ownership, or equity, takes the form of either common stock or preferred stock.
Periodic distributions of cash to the stockholders of a firm.
The purest and most basic form of corporate ownership.
administer the financial affairs of all types of businesses
Advantages of a corporation
Separation of ownership and management
Transfer of ownership is easy
Easier to raise capital
Advantages of a partnership
Two or more owners
More capital available
Relatively easy to start
Income taxed once as personal income
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