Cooperatives are typically classified as either consumer cooperatives or worker cooperatives. A cooperative differs from a corporation in that it has members, not shareholders, and they share decision-making authority. Cooperative: Often referred to as a "co-op", a cooperative is a limited-liability business that can organize asįor-profit or not-for-profit.A privately owned, for-profit corporation can be either privately held by a small group of individuals, or publicly held, with publicly traded shares listed on a stock exchange. Who elect a board of directors to direct the corporation and hire its managerial staff. A privately owned, for-profit corporation is owned by its shareholders, Government-owned or privately owned, and they can organize either for profit or as nonprofit organizations. Limited partnerships, and limited liability partnerships.Ĭorporation have limited liability and the business has a separate legal personality from its owners. The three most prevalent types of for-profit partnerships are general partnerships, In most forms of partnerships, each partner has unlimited liability for the debts incurred by the business. Manufacturing equipment, or retail fixtures, as well as any real property owned by the sole proprietor.Ī partnership is a business owned by two or more people. All assets of the business belong to a sole proprietor, including, for example, a computer infrastructure, any inventory, A sole proprietor has unlimited liability for all obligations incurred by the business, whether from operating costs or The owner operates the business alone and may hireĮmployees. Sole proprietorship: A sole proprietorship, also known as a sole trader, is owned by one person and operates for their benefit.Formsįorms of business ownership vary by jurisdiction, but several common entities exist: A corporation is more complicated and expensive to set up, but offers more protection and benefits for the owners/members. Limited liability for their owners/members, as well as being subject to corporate tax rates. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation orĬorporations, in contrast with sole proprietors and partnerships, are a separate legal entity and provide The proprietor is personally taxed on all income from the business. A business structure does not allow for corporate tax rates. If the business acquires debts, the creditors can go after the owner's personal Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. Which term describes a political institution that rules over a group of people with the same language and culture who reside within a defined territory quizlet?īusiness is the activity of making one's living or making money by producing or buying and selling products (such as goods and.Is the social institution through which power?.What is the name of the political system in which power resides in one person or family and is passed from generation to generation through lines of inheritance?.The first jazz artist to be given some liberty in choosing his material was Louis Armstrong, whose band helped popularize many of the early standards in the 1920s and 1930s.
Popular numbers in the 1920s were pop hits such as "Sweet Georgia Brown", "Dinah" and "Bye Bye Blackbird". In the early years of jazz, record companies were often eager to decide what songs were to be recorded by their artists. However, Chicago's importance as a center of jazz music started to diminish toward the end of the 1920s in favor of New York. Many New Orleans jazzmen had moved to Chicago during the late 1910s in search of employment among others, the New Orleans Rhythm Kings, King Oliver's Creole Jazz Band and Jelly Roll Morton recorded in the city. Important orchestras in New York were led by Fletcher Henderson, Paul Whiteman and Duke Ellington. Dances such as the Charleston and the Black Bottom were very popular during the period, and jazz bands typically consisted of seven to twelve musicians. Jazz had become popular music in America, although older generations considered the music immoral and threatening to old cultural values. The period from the end of the First World War until the start of the Depression in 1929 is known as the "Jazz Age".
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