Forms of Businesses

Business owned by two or more persons who share the risks and rewards.

• Partnership

• Stock

• Intermediary

• Sole Proprietorship

Shares of ownership in a corporation

• Partnership

• Stock

• Intermediary

• Sole Proprietorship

A business treated by law as separate from its owners

• Corporation

• Processors

• Manufacturers

• Unlimited Liability

Business that change raw goods into more finished products

• Corporation

• Producers

• Manufacturers

• Unlimited Liability

Tony and Alex own a saloon together. They share equal responsibility and each receive 50% of the profits. What form of business organization is this?

• Sole Proprietorship

• Partnership

• Corporation

• Cooperative

What is the main purpose or objective of business?

• earn profit

• create job

• help other people

• none of the choices

Advantages of this business type are that the owner is their own boss and gets to keep all the profits.

• Sole Proprietorship

• Partnership

• Corporation

• Cooperative