BUSI 1003 Chapter Notes - Chapter 1: Law Of Obligations, Retained Earnings, Deferral
1 May 2014
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Document Summary
Business a organization where resources such as material and labour are used to provide goods or services to customers. Types of business service business provide services rather than products such as repairs. Manufacturing business change resources into products that are sold. And merchandising business sell products that they purchase from other busi. Proprietorship 1 owner of the business. Corporation many owners of a company, shares (part owner of the company) Organized under state or federal statues as a separate legal entity. Dividends share profits with shareholders (amount per stock) Taxation proprietorship and partnership business" owners are taxed individually. Stakeholder a person or entity with an interest in the economic performance an well being of a company. Capitol market stakeholders shareholders, markets and bank. Providers of major financing for the business. Provide money to start business and continue operations. Interested in profits and if they can pay back. Product or service market stakeholders customers and suppliers (don"t want busi. to close)
