Business is an activity that makes a profit by producing or buying and selling products. It’s a living activity which makes money. The owner has every responsibility in a business. If the business has debt the creditor goes after the owners’ property. Production, sell or buy the sum of corporate tax be payable by the owner.
There are many forms of business that exist: sole proprietorship, partnership, corporation, cooperative, LLC, franchises, a company limited by guarantee, a company limited by shares, a company limited by guarantee with a share capital, a limited liability company, an unlimited company with or without share capital, companies formed by letters patent, charter corporations, statutory companies. A business is the sum of some activities, they are accounting, finance, manufacturing, marketing, research and development, safety, and sales.
Agriculture, service businesses, entertainment companies, and mass media agencies, sports organizations, industrial manufacturers, real estate businesses, transportation businesses, utilities produce public services are the main classification of business.