Marketing Management I EOPA

Front

The most common form of business ownership in the United States is________.

Back

Sole Proprietorship

Front

Identify an advantage of a sole proprietorship.

Back

One owner who makes all of the business decisions

Front

Identify an advantage of a partnership.

Back

There are two or more owners, the partners share in the costs, decisions, and responsibility.

Front

Identify an advantage of a corporation.

Back

Money is easily raised by shareholders although most decisions are made by the board of directors.

Front

Identify an advantage of a limited liability corporation.

Back

Run like a partnership and a corporation limited the responsibility of the partners

Front

Identify an disadvantage of a limited liability corporation.

Back

May be difficult to raise money compared to a corporation.

Front

Identify an disadvantage of a corporation.

Back

Double taxation

Front

Identify an disadvantage of a sole proprietorship.

Back

The owner of the company has unlimited liability

Front

Identify an disadvantage of a partnership.

Back

The partners may disagree thus causing problems in the business.

Front

A nail salon is an example of what type of business represented in our society?

Back

Service