Management
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Management
Business
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NASCLA Business Law and Management
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NASCLA Business Law andNASCLA
Management
Business
ExamLaw
SCand
2026_2027
NASCLA
Management
Business
– Study
Exam
Law
Guide
SCand
2026_2027
&Management
Exam Review.pdf
– Study
ExamGuide
SC 2026_2027
& Exam Review.pdf
– Study Guide & Exam Review.pdf
,NASCLA Business Law and Managment EXAM SC.pdf NASCLA Business Law and Managment EXAM SC.pdf NASCLA Business Law and Managment EXAM SC.pdf
The Economic Opportunity Act
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Terms (107)
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Sole Proprietorship
a business owned and managed by a single individual
Simplest form to set up
unlimited Liability
NASCLA Business Law and Managment EXAM SC.pdf NASCLA Business Law and Managment EXAM SC.pdf NASCLA Business Law and Managment EXAM SC.pdf
,NASCLA Business Law and Managment EXAM SC.pdf NASCLA Business Law and Managment EXAM SC.pdf NASCLA Business Law and Managment EXAM SC.pdf
Partnerships
Business organizations in which two or more persons share responsibilities, costs, profits,
and losses.
C Corporations
Corporations that have no restrictions on who owns their shares or the number of
shareholders; they cannot qualify for subchapter S tax treatment and are subject to direct
taxation
NASCLA Business Law and Managment EXAM SC.pdf NASCLA Business Law and Managment EXAM SC.pdf NASCLA Business Law and Managment EXAM SC.pdf
, NASCLA Business Law and Managment EXAM SC.pdf NASCLA Business Law and Managment EXAM SC.pdf NASCLA Business Law and Managment EXAM SC.pdf
S corporation
A unique government creation that looks like a corporation but is taxed like sole
proprietorships and partnerships
No more than 100 shareholders
FILING IRS FORM 2553
Limited liability company
A business organization in which the business (not the owner) is liable for the company's
debts
joint venture
an agreement between two or more companies to share a business project
NASCLA Business Law and Managment EXAM SC.pdf NASCLA Business Law and Managment EXAM SC.pdf NASCLA Business Law and Managment EXAM SC.pdf