Business Communication Ch. 6

_______________ involves maintaining and checking records, handling bills, and preparing financial reports for business.   

• Market survey
• Accounting
• Procurement
• Producer

Unlimited liability means the owner is responsible for the company's debts.

• True
• False

Service businesses perform tasks rather than provide goods.

• True

• False

Limited liability holds a firm's owners responsible for no more than the capital that they have invested in it. 

• true
• false

A contractual agreement to use the name and sell the products or services of a company in a designated geographic area. Hint: McDonald's...

• Non-profit organization
• Franchises
• Conglomerates
• Copyright

A nonprofit organization is a type of organization that focuses on providing a service, but not to make a profit. 

• True
• False

Corporations faces many disadvantages, they include all except:

• Paying taxes on income.

• Stockholders pay taxes on profits issued to them.

• Difficult and costly to start

• Can not issue stock to raise money.

A _____________ purchases goods from a wholesaler and sells them to consumers, the final buyers of the goods. 

• Intermediary
• Retailer
• Producer
• Sole proprietorship

Sole proprietorship includes many owners.

• True

• False

A ___________ is a business that gathers raw goods. 

• Intermediary
• Retailer
• Producer
• Wholesaler