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Which of the following means limited life? When a business continues to exist, even after the business owner dies, quits, or sells the business , When a business ceases to exist when the business owner dies, quits, or sells the business , When a business owner is personally and fully responsible for all debts incurred by the business , When the business itself is responsible for all of its debt, and the business owners' assets are safe in case of debt

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When a business ceases to exist when the business owner dies, quits, or sells the business

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Which of the following means unlimited life? When a business continues to exist, even after the business owner dies, quits, or sells the business , When a business ceases to exist when the business owner dies, quits, or sells the business , When a business owner is personally and fully responsible for all debts incurred by the business , When the business itself is responsible for all of its debt, and the business owners' assets are safe in case of debt

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When a business continues to exist, even after the business owner dies, quits, or sells the business

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Which type of business has unlimited life? Options: Sole Proprietorship, General Partnership, Corporation, Limited Partnership

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Corporation

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Which type of business is considered its own legal entity? A Corporation, A Sole Proprietorship, A General Partnership, All of these are their own legal entities

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A Corporation

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If a corporation is "its own legal entity" that means it is...

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The same, legally, as a person. It can sue others and be sued

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Who is at the top of the corporate structure?

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The Stockholders

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What does a Chamber of Commerce do?

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They do all of these

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What does a Better Business Bureau do?

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Protects consumers and provides information on companies like records, complaints, and inquiries.

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To calculate a company's CASH FLOW, you need to take... Revenue - Expenses - Depreciation + Depreciation = Cash Flow

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Revenue - Expenses - Depreciation + Depreciation = Cash Flow

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If an expense is a "Noncash Charge" that means...

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The money stays in the firm rather than being paid to someone else