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PHYSICAL ASSET: A productive resource, capital, property, or satisfaction-generating good. Also termed real asset. This should be contrasted with financial assets that are legal claims on physical assets.

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PROPRIETORSHIP

A business organization that is owned and operated by one person. The owner and the business are legally considered one and the same. As such, the owner receives any and all profit and is responsible for any and all debts, what is termed unlimited liability. A proprietorship is one of the three basic forms of business organization. The other two are partnership and corporation. A large number of proprietorships exist in the economy, but they tend to be relatively small operations.

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Today, you are likely to spend a great deal of time flipping through the yellow pages hoping to buy either a large, stuffed giraffe or a birthday greeting card for your aunt. Be on the lookout for broken fingernail clippers.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
"Enthusiasm is the greatest asset in the world. It beats money and power and influence. It is no more or less than faith in action. "

-- Henry Chester, Writer

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