MAF101 Study Guide - Final Guide: Investment Fund, Investment Company, Dividend Policy
Document Summary
Finance final exam maf101: introduction to finance. Finance is the art and science of managing money. Finance is concerned with the process, institutions, markets and instruments involved in the transfer of money in between individuals, businesses and governments. Financial services is the area of finance concerned with the design and delivery of advice and financial products to individuals, business and government. Includes banking, personal financial planning, investments, real estate, superannuation and insurance. Sole proprietorship is a business owned by one person who operates it for his or her own profit. (i) The majority of all businesses (95%) are sole proprietors. Found in; wholesale, retail, service and construction industries. Partnerships consist of two or more owners doing business together for profit. Professional services firms are the most common type of partnership. (i) Most partnerships are established by a written contract known as the articles of partnership. A corporation is an artificial being created by law (aka legal entity).
