Portal:Business

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Introduction

Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services).[need quotation to verify] Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors."

Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.

The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company. A company, on the other hand, is a separate legal entity and provides for limited liability, as well as corporate tax rates. A company structure is more complicated and expensive to set up, but offers more protection and benefits for the owner.

Selected article

A contemporary French print on the English custom of wife selling

Wife selling was a traditional English practice for ending an unsatisfactory marriage. Instead of dealing with an expensive and dragged-out divorce, a husband would take his wife to market and parade her with a halter around her neck, arm, or waist, before publicly auctioning her to the highest bidder. Any children from the marriage might also be sold along with their mother. Prices paid for wives varied considerably, from a high of £100 (plus £25 each for her two children), to a low of a glass of ale, or even free. The Duke of Chandos bought his second wife at one such sale in Newbury in about 1744. Along with other English customs, wife selling was exported to England's American colonies, where one man sold his wife for "two dollars and half [a] dozen bowls of grogg". Husbands were sometimes sold by their wives in a similar manner, but much less frequently. Wife selling persisted in some form into the early 20th century, as general attitudes began to shift.

Selected image

A typical North American grain farm with farmstead in Ontario, Canada.
Photo credit: Genghiskhanviet

A farm is an area of land that is devoted primarily to agricultural processes or an area of water that is devoted primarily to aquacultural processes, in order to produce and manage such commodities as fibres, grains, livestock, or fuel. It is the basic production facility in food production. Farms may be owned and operated by a single individual, family, community, corporation or a company. A farm can be a holding of any size from a fraction of a hectare to several thousand hectares.

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"Who provides the profits -- these nice little profits of 20, 100, 300, 1,500 and 1,800 per cent? We all pay them -- in taxation. We paid the bankers their profits when we bought Liberty Bonds at $100.00 and sold them back at $84 or $86 to the bankers. These bankers collected $100 plus. It was a simple manipulation. The bankers control the security marts. It was easy for them to depress the price of these bonds. Then all of us -- the people -- got frightened and sold the bonds at $84 or $86. The bankers bought them. Then these same bankers stimulated a boom and government bonds went to par -- and above. Then the bankers collected their profits.

But the soldier pays the biggest part of the bill.

If you don't believe this, visit the American cemeteries on the battlefields abroad. Or visit any of the veteran's hospitals in the United States. On a tour of the country, in the midst of which I am at the time of this writing, I have visited eighteen government hospitals for veterans. In them are a total of about 50,000 destroyed men -- men who were the pick of the nation eighteen years ago. The very able chief surgeon at the government hospital; at Milwaukee, where there are 3,800 of the living dead, told me that mortality among veterans is three times as great as among those who stayed at home.

Boys with a normal viewpoint were taken out of the fields and offices and factories and classrooms and put into the ranks. There they were remolded; they were made over; they were made to "about face"; to regard murder as the order of the day. They were put shoulder to shoulder and, through mass psychology, they were entirely changed. We used them for a couple of years and trained them to think nothing at all of killing or of being killed.

Then, suddenly, we discharged them and told them to make another "about face" ! This time they had to do their own readjustment, sans [without] mass psychology, sans officers' aid and advice and sans nation-wide propaganda. We didn't need them any more. So we scattered them about without any "three-minute" or "Liberty Loan" speeches or parades. Many, too many, of these fine young boys are eventually destroyed, mentally, because they could not make that final "about face" alone."

Smedley Butler, War Is a Racket, 1935

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  • ...that Valrhona, a company based in the small town of Tain l'Hermitage in the Rhône Valley in France, is one of the world's leading manufacturers of high-quality chocolate?
  • ... that Hollywood accounting is the practice of distributing the profit earned by a large project to corporate entities which, though distinct from the one responsible for the project itself, are typically owned by the same people, with the net result of reducing the project's profit by a substantial margin, sometimes even eliminating it altogether.

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