U2 Test The American Economy

Front

Business owned by one person

Back

Sole proprietorship

Front

Business owned by 2+ people

Back

Partnership

Front

Sole proprietors have:

Back

Unlimited liability

Front

Advantage of Sole Proprietorship

Back

Receives all profits

Front

Articles of partnership

Back

Share profits and losses

Front

Business with rights/responsibilities of an individual

Back

Corporation

Front

Owners of a corporation

Back

Stockholders

Front

Corporations finance start-up and operation

Back

Sales of stock

Front

Stockholders elect a...

Back

board of directors

Front

Limited liability

Back

Stockholders not responsible for corporation's debts