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A _________ Is a Privately Owned Organization That Serves Its

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A _________ is a privately owned organization that serves its customers in order to earn a profit so that it can survive.


Definitions:

Personal Liability

The legal obligation of an individual to fulfill or settle a debt or legal judgement from their own assets.

Informational Return

A tax document that entities use to report certain types of payments made to the IRS, like income from self-employment or dividends.

Internal Revenue Service

The U.S. federal agency responsible for administering and enforcing the tax laws and collecting taxes.

Corporate Officer

Executives who are appointed by a corporation's board of directors to manage the corporation's affairs.

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