Chapter 19: Business in America

What is a business called that is owned and operated by a single person?

• Sole proprietorship
• LLC
• Partnership
• Corporation

What is the money used to run or expand a business called?

• profit
• revenue
• capital
• income

What is a business owned by two or more people?

• Corporation
• Sole proprietorship
• Partnership
• Limited liability company

The legal responsibility for something, such as an action or a debt.

• asset
• profit
• liability
• benefit

This is the type of business organization owned by many people but treated by law as though it were a person.

• corporation
• LLC
• sole proprietorship
• partnership

A government document granting permission to organize a corporation.

• Permit
• Charter
• License
• Certificate

The people elected to be the shareholders of a corporation to act on their behalf.

• Board of Directors

• Board of Trustees

• Boss

• Joint Chiefs of Staff

A company that has permission to sell the supplier's goods or services in a particular area in exchange for a sum of money.

• Partnership
• Franchise
• License
• Contract

What are association of workers organized to improve wages and working conditions called?

• Professional organizations
• Labor unions

• Social clubs
• Political parties

In a union shop all workers of that company must belong to?

• a political party
• a labor union
• a sports team
• a book club