Copyright

Flashcards - Types of Business Organizations

Flashcards - Types of Business Organizations
1/6 (missed) 0 0
Create Your Account To Continue Studying

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access
general partnerships
In most countries, a general partnership is an association of persons or an unincorporated company with the following major features: * Created by agreement, proof of existence and estoppel
Got it
corporation
A corporation is a company or group of people authorized to act as a single entity and recognized as such in law
Got it
business partnership
A partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests
Got it
6 cards in set
Front
Back
business partnership
A partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests
corporation
A corporation is a company or group of people authorized to act as a single entity and recognized as such in law
general partnerships
In most countries, a general partnership is an association of persons or an unincorporated company with the following major features: * Created by agreement, proof of existence and estoppel
limited liability partnership
A limited liability partnership is a partnership in which some or all partners have limited liabilities
piercing the corporate veil
Piercing the corporate veil or lifting the corporate veil is a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders
double taxation
Double taxation is the levying of tax by two or more jurisdictions on the same declared income , asset , or financial transaction

To unlock this flashcard set you must be a Study.com Member.
Create your account

Unlock Your Education

See for yourself why 30 million people use Study.com

Become a Study.com member and start learning now.
Become a Member

Already a member? Log In

Support