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Distinguish Between a Sole Proprietorship and a Corporation

question 53

Essay

Distinguish between a sole proprietorship and a corporation.


Definitions:

Investment Center

A division or unit within a company for which the manager has control over costs, revenues, and investments, and is responsible for generating a return on the assets employed.

Income

The total amount of revenue or gain received by an individual or company, from various sources such as salary, investments, or business operations, before any deductions or taxes.

Sales

The transactions involving the exchange of goods or services for money, representing the primary source of revenue for most businesses.

Production Departments

Specific divisions within a manufacturing facility where distinct stages of the production process are carried out.

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