group 6, chapter 33 review

____ is the process of starting and operating your own business.

What are some risks of entrepreneurship?

• quitting your job

• work long hours

• invest savings

• borrow money

A ___ is a binding contract between two or more individuals that states they will share responsibility for the success or failure of the business.

One disadvantage of franchising is the inital ___

• cost

• product

• place

• promotion

A corporation has several unique features, such as ___

• legal permission to operate

• separate legal entity

• stockholders

• board of directors

Name at least one possible form of business organization

A ___ is a legal agreement to sell a parent company's product or service in a designated geographical area

• franchise

• customer relationship management

• corporation

• partnership

What does LLC stand for?

• Limited Liability Company

• I'm not sure

• Likeable linen corporation

• Legal Limit Company

A partnership may make more ___ available