WW5:ENTREP-Chapter 3: Lesson 5

It is a business organization composed of two or more owners.

• Sole Proprietorship

• Partnership

• Corporation

• Cooperative

It is a business organization that has one owner.

• Sole Proprietorship

• Partnership

• Corporation

• Cooperative

This is a type of business that provides labor and other services to its customer.

• Service

• Merchandising

• Manufacturing

• Agriculture

This is a type of business that purchases products from other businesses and sells them to customers at a higher retail price.

• Service

• Merchandising

• Manufacturing

• Agriculture

This is a business that transforms raw materials into finished goods.

• Service

• Merchandising

• Manufacturing

• Agriculture

It is a corporation that does not issue shares of stock and is established for public interests such as a foundation for charitable, religious, educational, scientific, social, cultural, and other similar purposes.

• Non-stock Corporation

• Stock Corporation

____________ is authorized to issue shares of stock to stockholders.

• Non-stock Corporation

• Stock Corporation

The owners of a stock corporation are called members.

• True

• False

___________ is a form of partnership wherein the partners have unlimited liability for the debts and obligations of the partnership.

• General partnership

• Limited partnership

The general partner is not personally responsible for the company since they have no decision making power.

• True

• False