Examlex
In solving business problems, you usually need to maximize items such as revenue or profit, and minimize items such as expenses or losses. _________________________
S Corporation
A type of corporation in the United States that is taxed under Subchapter S of the Internal Revenue Code, with profits passing through to shareholders to be taxed at individual income tax rates.
Sole Proprietorship
A business owned and operated by a single individual, with no separation between the business and the owner, legally or financially.
Partnership
A partnership is a legal business structure where two or more individuals share ownership, responsibilities, and profits or losses of the business.
Corporation
A legal entity that is separate and distinct from its owners, with rights to enter into contracts, loan and borrow money, sue and be sued.
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