4Q SUMMATIVE REVIEW IN HELE 5

---legal relationship between a person and his or her possession. It is very important to identify and analyze an owner’s responsibilities, the terms of his or her profit-sharing, and the pros and cons of the type of ownership he or she enjoys

• Profit

• Business

• Investment

• Capital

• Ownership

---refers to the money or materials put down to start a business

• Profit

• Business

• Investment

• Capital

• Ownership

---investment in the form of money

• Profit

• Business

• Investment

• Capital

• Ownership

---kind of earning or gain after some investment has been made

• Profit

• Business

• Investment

• Capital

• Ownership

---an activity that involves manufacturing, purchasing or buying, selling, financing or providing financial support, and giving service

• Profit

• Business

• Investment

• Capital

• Ownership

Forms of Ownership

---owned by an individual

• Business owned by an individual and the government

• Private business

• Government-owned business

Forms of Ownership

---falls under government supervision

• Business owned by an individual and the government

• Private business

• Government-owned business

Forms of Ownership

---run by an individual or group of people who shares a percentage of profit to the government

• Business owned by an individual and the government

• Private business

• Government-owned business

FORMS OF BUSINESS

---two persons or families -minimum capital, with another source of capital available

• Corporation

• Proprietorship

• Partnership

FORMS OF BUSINESS

---one person or family -minimum capital -owner is in direct control, and decides on his or her own will

• Corporation

• Proprietorship

• Partnership