Lecture 1 - Introduction to Financial Management Updated 2023
Corporation - a separate legal entity with many of the economic rights and responsibilities enjoyed by individuals Widely-held e.g Kerry Group Closely-held e.g Wal-Mart Private e.g Dell Sole Proprietorship - Owned and run by a single person. Few if any employees. Easy to create, but unlimited liability. Firm may cease when owner dies Partnerships - Similar to sole proprietorship but many owners. Owners personally liable for debts of partnership...
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