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stockholder dividends are taxed twice

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Bond: written promise to repay amount borrowed
Principal: amount borrowed
Interest: price paid for use of another's money

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Common: basic ownership of corporation. Preferred: nonvoting ownership shares.

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A check that transfers a portion of corporate rate earnings to each stockholder

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Investors in stocks

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ownership certificates in the firm

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at least one partner is not active in daily running of business

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all partners are responsible for management and financial obligations

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stock of unfinished goods and parts in reserve

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A form of business organization recognized by law as a separate legal entity with all the rights of an individual.
-Requirements:
Must file for permission from national government or the state where it will have its headquarters. Charter-a government document that gives permission to create a corporation.
-Ex: Microsoft, Adidas, Wells Fargo
-Advantages: easy to raise financial capital, provides limited liability for its owners, unlimited life( exists even when ownership changes)
-Disadvantages: Double taxation-stockholder dividends are taxed twice, Shareholders have little voice in how the business is run, Subject to more government regulation

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A business owned by two or more people
-Requirements:
business licenses, forms
-form 1065, for the partnership
-Advantages: it is supported by two or more people
-shared cost of startup
-shared responsibilities and work
-Disadvantages: limited liability
-shared pay
-friendship may not survive on a partnership

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Business owned by a single individual
- Requirements: occasional business licenses/fees
- Ex of proprietorship: lemonade stand
- Advantages: easy set up, flexible management, no separate income taxes because business is not a single entity
- Disadvantages: unlimited liability (full responsibility to owner), difficulty raising capital, min. inventory, difficult to find qualified employees, limited life (business dies when owner leaves)

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Sole proprietorship, partnership, corporation.