. The simplest type of business organization, wherein the business is owned entirely by one person. All profits obtained from the business are his alone, but he must also bear all losses should they be incurred. Ans.; 2. A business type composed of an association of two or more persons for the purpose of engaging in a business for profit. Ans.; 3. A business type of distinct legal entity, separate from the individuals who owned it, and which can engage in practically any business transaction which a real person could do, considered the most important type of business. Ans.; 4. A certificate of indebtedness of a corporation usually for a period not less than 10 years, and guaranteed by a mortgage on certain s of the association. Ans.; 5. A bond whose owner’s name is recorded in the books of the corporation. Ans.; 6. These are bonds whose security is a mortgage on certain specified assets of the corporation. If the corporation fails to pay the bond value at the date of maturity, title to the property will be transferred to the bond holders, who may take possession and sale the same to reimburse the amounts they have invested. Ans.
1. The simplest type of business organization, wherein the business is owned entirely by one person. All
profits obtained from the business are his alone, but he must also bear all losses should they be
incurred. Ans.;
2. A business type composed of an association of two or more persons for the purpose of engaging in a
business for profit. Ans.;
3. A business type of distinct legal entity, separate from the individuals who owned it, and which can
engage in practically any business transaction which a real person could do, considered the most
important type of business. Ans.;
4. A certificate of indebtedness of a corporation usually for a period not less than 10 years, and
guaranteed by a mortgage on certain s of the association. Ans.;
5. A bond whose owner’s name is recorded in the books of the corporation. Ans.;
6. These are bonds whose security is a mortgage on certain specified assets of the corporation. If the
corporation fails to pay the bond value at the date of maturity, title to the property will be transferred
to the bond holders, who may take possession and sale the same to reimburse the amounts they have
invested. Ans.;
Step by step
Solved in 2 steps
