Đang chuẩn bị nút TẢI XUỐNG, xin hãy chờ
Tải xuống
After completing this chapter, students will be able to: Define the three common business forms, list and describe the seven departments commonly found in most organizations, describe a transaction and its importance to the accounting department,. | BUSINESS PLUG-IN B1 Business Basics LEARNING OUTCOMES Define the three common business forms List and describe the seven departments commonly found in most organizations Describe a transaction and its importance to the accounting department LEARNING OUTCOMES Identify the four primary financial statements used by most organizations Define the relationship between sales and marketing, along with a brief discussion of the marketing mix to the accounting department Define business process reengineering and explain how an organization can use it to transform its business Types of Business Profit - occurs when businesses sell products or services for more than they cost to produce Loss - occurs when businesses sell products or services for less then they cost to produce Businesses typically organize in one of the following types: Sole proprietorship Partnership Corporation SOLE PROPRIETORSHIP Sole proprietorship - a business form in which a single person is the sole owner . | BUSINESS PLUG-IN B1 Business Basics LEARNING OUTCOMES Define the three common business forms List and describe the seven departments commonly found in most organizations Describe a transaction and its importance to the accounting department LEARNING OUTCOMES Identify the four primary financial statements used by most organizations Define the relationship between sales and marketing, along with a brief discussion of the marketing mix to the accounting department Define business process reengineering and explain how an organization can use it to transform its business Types of Business Profit - occurs when businesses sell products or services for more than they cost to produce Loss - occurs when businesses sell products or services for less then they cost to produce Businesses typically organize in one of the following types: Sole proprietorship Partnership Corporation SOLE PROPRIETORSHIP Sole proprietorship - a business form in which a single person is the sole owner and is personally responsible for all the profits and losses of the business Many small businesses are sole proprietorships PARTNERSHIP Partnership - similar to sole proprietorships, except that this legal structure allows for more than one owner Each partner is personally responsible for all the profits and losses of the business When starting a partnership, it is wise to have a lawyer draft a partnership agreement Partnership agreement - a legal agreement between two or more business partners that outlines core business issues CORPORATION Corporation (organization, enterprise, or business) - an artificially created legal entity that exists separate and apart from those individuals who created it and carry on its operations Shareholder - another term for business owners An important advantage of a corporation is that it offers the shareholders limited liability Limited liability - the shareholders are not personally liable for the losses incurred by the corporation .
