(6th Edition – Berk & DeMarzo) – PDF
What is stockholders OR shareholders OR equity holders? - answers-owner of a share of stock in
a corporation
What is a corporation? - answers-business created as a distinct legal entity and treated as a
legal "person"
What is a Sole Proprietorship? - answers-business owned and operated by one person
What is a partnership? - answers-a business owned by two or more people
What is a limited partnership? - answers-A partnership with one or more general partners and
one or more limited partners.
What is a limited liability? - answers-A form of business ownership in which the owners are
liable only up to the amount of their individual investments.
What is a Limited Liability Company (LLC)? - answers-Form of business enterprise that offers the
limited liability of the corporation (but the tax advantages of a partnership)
What is a stock? - answers-A share of ownership in a corporation.
What is Equity? - answers-collection of all outstanding shares of a corporation
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