QUIZ 1 and 2 BES

Are companies that may be classified in more than one type of business.

• Merchandising Business

• Manufacturing Business

• Service Business

• Hybrid Business

Business that purchases finished products and resells them to consumers.

• Merchandising Business

• Manufacturing Business

• Service Business

• Sole partnership

Form of business where two or more people share ownership.

• Sole Proprietorship

• Corporation

• Partnership

• Single ownership

A business organization that has a separate legal personality from its owners.

• Company

• Corporation

• Partnership

• Sole Proprietorship

A business owned by only one person.

• Hybrid Business

• Corporation

• Partnership

• Sole Proprietorship

Food processing, such as producing canned meat, frozen goods, dairy products, bottled drinks, also bakeries and oil mills.

• Manufacturing Business

• Merchandising Business

• Service Business

• Company corporation

Example of this business are Hospitals and clinics, schools, museums, banks.

• Manufacturing Business

• Service Business

• Merchandising Business

• Sole Proprietorship

Business that combines raw materials, labor, and overhead costs in its production process.

• Partnership

• Service Business

• Merchandising Business

• Manufacturing Business

Type of business provides intangible products (products with no physical form).

• Service Business

• Merchandising Business

• Manufacturing Business

• Corporation

This type of business buys products at wholesale price and sells the same at retail price.

• Manufacturing Business

• Service Business

• Merchandising Business

• Sole Proprietorship