Business, Economics, Stocks, and Budgeting Test Review

A business owned and operated by one person.

• Partnership

• Sole Proprietorship

• Limited Liability Company (LLC)

• Corporation

A business registered by the state and operates apart from its owners

• Partnership

• Sole Proprietorship

• Limited Liability Company (LLC)

• Corporation

A business with two or more owners

• Partnership

• Sole Proprietorship

• Limited Liability Company (LLC)

• Corporation

A business with limited liability like a corporation, but pass-through income taxation like a partnership.

• Partnership

• Sole Proprietorship

• Limited Liability Company (LLC)

• Corporation

An authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, e.g., providing a broadcasting service or acting as an agent for a company's products.

• Non-Profit

• Public Company

• Private Company

• Franchise

Can sell its own registered shares to the general public that are traded on stock exchanges. It must adhere to a lot of regulations and reporting standards as per SEC.

• Non-Profit

• Public Company

• Private Company

• Franchise

It is an organization that uses its surplus of the revenues to further achieve its ultimate objective, rather than distributing its income to the organization's shareholders, leaders, or members.

Group of answer choices

• Non-Profit

• Public Company

• Private Company

• Franchise

Can sell its own, privately held shares to a few willing investors and can be traded by only a few private investors. It doesn't have to follow any regulations issued by SEC.

• Non-Profit

• Public Company

• Private Company

• Franchise

A form of protection provided by the laws of the United States to the creators of "original works" including literary works, movies, musical works, sound recordings, paintings, photographs, software, live performances, and television or sound broadcasts.

• Trademark

• Patent

• Copyright

Any name, symbol, figure, letter, word, or mark adopted and used by a manufacturer or merchant in order to designate his or her goods and to distinguish them from those manufactured or sold by others.

• Trademark

• Patent

• Copyright