Corporation vs. Incorporation

The difference between corporation and incorporation A corporation is a business or organization that has a registered charter. Through the charter it is recognized as a formal and separate legal entity. Incorporation refers to the process of setting up a corporation. There are many different types of corporations – non-profit organizations, sports clubs, businesses, or […]

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Bankruptcy vs. Insolvency

How to distinguish between bankruptcy and insolvency Anyone in business dreads hearing the words “bankruptcy” and “insolvency” because they are so disastrous for the financial health of the business. Private citizens often go through bankruptcy when their debts are insurmountable and they do not have the monies necessary to make the minimum payments. Although bankruptcy […]

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Balance Sheet vs. Income Statement

How a balance sheet differs from an income statement A company or organization that has stakeholders or shareholders must prepare an annual financial statement in order to let those involved know the financial health of the business. There are different components to a financial statement, two of which are balance sheet and income statement. Even […]

Filed under Business & Finance