How is a business different from an enterprise
Answers
Answer:
A business enterprise is always a for-profit entity, while, a company can be a not-for-profit too. Of course, the other difference can be traced back to the nature of ownership. A business enterprise can be an entirely person-owned outfit, not covered under corporate governance laws of a nation, and the owner is personally liable. A company, on the other hand, is an entity on its own, governed by the concept of going concern, and is bigger than the persons who formed it.
Explanation:
A business enterprise is always a for-profit entity, while, a company can be a not-for-profit too. Of course, the other difference can be traced back to the nature of ownership. A business enterprise can be an entirely person-owned outfit, not covered under corporate governance laws of a nation, and the owner is personally liable. A company, on the other hand, is an entity on its own, governed by the concept of going concern, and is bigger than the persons who formed it.
Answer:
Explanation:
A business enterprise is always a for-profit entity, while, a company can be a not-for-profit too. Of course, the other difference can be traced back to the nature of ownership. A business enterprise can be an entirely person-owned outfit, not covered under corporate governance laws of a nation, and the owner is personally liable. A company, on the other hand, is an entity on its own, governed by the concept of going concern, and is bigger than the persons who formed it.