Posted in: Business Article

Cash, Finance And Banking Vocabulary

Money also acts as a store of value (money may be held over a period of time and used to finance future funds) and as a unit of account (money is used to measure and record the value of products and assets, as for instance in compiling the nation’s NATIONWIDE EARNINGS accounts). Sole proprietorship: A sole proprietorship , also called a sole dealer, is owned by one individual and operates for his or her profit. The proprietor operates the business alone and will hire employees A sole proprietor has limitless legal responsibility for all obligations incurred by the business, whether from working prices or judgments in opposition to the business. All assets of the business belong to a sole proprietor, including, for example, a computer infrastructure, any stock , manufacturing equipment, or retail fixtures , in addition to any actual property owned by the only proprietor.

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