Flashcard Set Preview
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| 1 |
Partnership
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Business owned by two or more people - profit split between them
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| 2 |
Sole proprietorship
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Business is owned by only one person, and that person recieves any profits made by the business
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Merger
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Absorption of one company by another rather than a type of business ownership
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Corportation
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Business owned by people who owned stock in the business, and they split the profits
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| 5 |
Function of judicial system
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to interpret laws
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