First order of business today was economics. I learned about the three kinds of business organization. They are as follows.
- Sole Proprietorship: A single person owns and runs the business, is responsible for everything, and taxes are simple.
- Partnership: Two or more persons own a business with varying degrees of responsibility and blame, and taxes are, again, simple.
- Corporation: A bunch of people own the company, which is managed by a board of directors, who hire management. Taxes are complex, as corporations are their own legal entity.
Next up, Algebra. Today, I learned about linear equations. There are two big things to know that were covered in this section:
- Slope-Intercept Form: y = mx + b
- m is equal to slope, and b is the y intercept.
- Point-Slope Form: Y – Y1 = m(X – X1)
- m is still equal to slope, while (X1, Y1) are a point on the line.