MONEY.......MONEY.......MONEY

16/04/07

Today we learned about business! There are three types of businesses: Sole Proprietorships, Partnerships and Corporations.

Sole proprietorships: this type of business that is owned by one person. All of the profits and the loses will go to that person. If the business is being owned by more than one person then it's not a sole proprietorship.

Partnerships: this is a type of business where two or more people wished to do business together. Each partner will have to give their share of money or property and give their professional contribution of either work or expertise. If there's only one partner in the business and no one else joins in 120 days then the partnership will be closed.

Corporations: this type of business that is made up of individual share holders. One of the most important goals for each corporation is to operate for profit.

Source: http://www.revenu.gouv.qc.ca/eng/entreprise/demarrage/types/index.asp

After learning about the three types of businesses we were assigned a project...AGAIN! The project is: we are each given $100,000 and we have to use this money to buy shares from 5 different companies. One of the websites you can use to check the prices of stocks, etc is www.tsx.com. After we decide what companies to buy from we then make a chart that includes: company name, date, value per share, amount of shares bought, and the symbol of the company. Every Tuesday and Friday you have to check the prices of shares again because it will change. You need check for 6 weeks. After the 6 weeks, you have to make a presentation to class saying what company you picked and if you lost money or gained money. HAVE FUN!!!!