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OWNERSHIP
CONCEPT OF BUSINESS
Business may be defined as an economic activity
involving the production and sale of goods and
services undertaken with the motive of earning profit
by satisfying human needs in the society.
CHARACTERISTICS OF BUSINESS ACTIVITIES
■ An economic activity.
■ Production or procurement of goods and services.
■ Sale or exchange of goods and services for the
satisfaction of human needs.
■ Dealings in goods and services on a regular basis.
■ Profit earning.
CHARACTERISTICS OF BUSINESS ACTIVITIES
■ An economic activity.
■ Production or procurement of goods and services.
■ Sale or exchange of goods and services for the
satisfaction of human needs.
■ Dealings in goods and services on a regular basis.
■ Profit earning.
3 BASIC FORMS OF BUSINESS OWNERSHIP
■ Sole Proprietorship
■ Partnership
■ Corporation
SOLE PROPRIETORSHIP
5. Financial Power
– Acquisition Of Capital
– Can raise money quickly by issuing shares of
stock.
DISADVANTAGES OF CORPORATIONS
1. Dual Taxation
– Corporation is taxed on profits from the
company