Business Organizations

This type of business is owned by one person.

• Partnership

• Sole Proprietorship

• Corporation

• Franchise

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

• Partnership

• Sole Proprietorship

• Corporation

• Franchise

Disadvantages for this type of business include: owner pays for everything, hard to get money to start from the bank, owner might lack skills & unlimited liability.

• Sole Proprietorship

• Partnership

• Corporation

• Franchise

A business owner who prefers to maintain complete control of all business activities might consider structuring the venture as a(n)

• sole proprietorship

• general partnership.

• franchise

•  corporation.

What term is defined as an enterprise that produces goods or services, usually to make a profit?

• stock

• business organization

• unlimited liability

• vertical merger

What type of business organization has two or more owners who share risks and profits?

• incorporated

• proprietorship

• partnership

• negotiation

What type of business organization is authorized by law to act as a legal entity regardless of the number of owners?

• partnership

• government

• proprietorship

• corporation

This type of business is owned by many people called stockholders.
(a)  

• Corporation

• Sole Proprietorship

• Partnership

• Franchise

A company partially owned by the public who buy shares of stock in the business.

• corporations

• enterprises

• monopolies

• cottage industries

Home Depot is which type of business organization?

• Sole Proprietorship

• Partnership

• Corporation