Corporations

business owned by one individual

• proprietorship

• C Corporation

• target profit

business owned by two or more individuals

• partnership

• corporation

• OLAP

business or group of people legally allowed to act as a single unit

• s corporation

• corporation

• data mining

most common type of corporation; has shareholders which elect a board of directors which oversees the company's activities

• double taxation

• S Corporation

• C Corporation

governing body of elected members which oversee the company's activities

• board of directors

• journal

• trial balance

profits are taxed when earning and taxed again when distributed as shareholders' personal tax returns

• double taxation

• accounting period

• balance sheet

formerly called a sub section S corporation, records profits and losses on shareholders' personal tax returns

• C Corporation

• S Corporation

• corporate tax

levy placed on the profit of a firm, with different rates used for different levels of profit

• corporate tax

• ledger

• dividend

profit goal set by the company which estimates the business performance needed to make a profit during a certain period of time

• internal accounting controls

• retained earnings

• target profit

process of examining a large collection of data and identifying potentially useful information

• data mining

• bonds

• common stock