Give the definition of Finance

It is the study of managing money, investment and financial resources. Finance also has a wide range of activities like budgeting, saving, lending, borrowing, investing, risk management and financial analysis.

2. What is a Sole Proprietorship?

It is a business that is owned by one person. He manages the business on their own without any legal entity. Invest his own capital in the business and he is responsible for the loss or profit in the business

3. What is a Partnership?

Is a business that has 2 or more owners in a business they share the profits, loss and the management responsibilities in the business. They also have to contribute their resource, skills and expertise in the business

4. What is a Closed Corporation?

Is a business that owned and managed by one person or a small group of people which are called shareholders. They are responsible for the day to day management of the business

5. Describe the Agency Problem

Its a conflict of interest in a company. Is when a manager prioritise their own interest over their bosses. Eg they run the similar business on the side that they are apart of and working for a company with the same interest and they prioritise they side line business

Give the definition of Finance

It is the study of managing money, investment and financial resources. Finance also has a wide range of activities like budgeting, saving, lending, borrowing, investing, risk management and financial analysis.

2. What is a Sole Proprietorship?

It is a business that is owned by one person. He manages the business on their own without any legal entity. Invest his own capital in the business and he is responsible for the loss or profit in the business

3. What is a Partnership?

Is a business that has 2 or more owners in a business they share the profits, loss and the management responsibilities in the business. They also have to contribute their resource, skills and expertise in the business

4. What is a Closed Corporation?

Is a business that owned and managed by one person or a small group of people which are called shareholders. They are responsible for the day to day management of the business

5. Describe the Agency Problem

Its a conflict of interest in a company. Is when a manager prioritise their own interest over their bosses. Eg they run the similar business on the side that they are apart of and working for a company with the same interest and they prioritise they side line business