| A | B |
|---|
| Sole Proprietorship | Form of business where the owner is the only one responsible for the business activities. |
| liability | Money owed to others. |
| Unlimited Liability | The debts incurred by a firm may have to be paid from the owner's personal assets. |
| Partnership | Form of business where more than one person shares the business's decisions and outcomes. |
| General Partners | Partners who share unlimited personal liability and take full responsiblity for the management of the business. |
| Limited Partners | Partners whose liability is limited to their investment. |
| Corporation | A business that is chartered, or registered, by a state, and legally operates apart from its owner or owners. |
| C-Corporation | A form of corporation which protects the owners from being sued personally for actions and debts of the corporation. |
| Subchapter S Corporation | Form of Corporation which is taxed like a sole proprietorship or partnership |
| Limited Liability | A form of business ownership in which the owners are liable only up to the amount of their individual investment. |
| Nonprofit Corporation | Legal entities that make money for resons other than the owner's profit. |
| Limited Liability Company (LLC) | Form of business organization with limited liability and has pas-through tax advantages. |
| Perferred Stock | investment in a business which gives them voting rights and they can receive their investment back in case of a business failure |
