Examlex
Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
inductive methodology
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.
Not-for-Profit
Organizations or institutions that do not operate for the purpose of making a profit but rather for a public benefit or a specific cause.
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