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Vocabulary for Forms of Businesses and Ownership

Total questions: 13

Worksheet time: 7mins

Name
Class
Date
1.

Business owned by two or more persons who share the risks and rewards.

a)

Partnership

b)

Stock

c)

Intermediary

d)

Sole Proprietorship

2.

Shares of ownership in a corporation

a)

Partnership

b)

Stock

c)

Intermediary

d)

Sole Proprietorship

3.

Business that acts as a go-between in moving goods from producers to consumers, such as wholesalers, retailers, and distributors

a)

Partnership

b)

Stock

c)

Intermediary

d)

Sole Proprietorship

4.

A business treated by law as separate from its owners

a)

Corporation

b)

Processors

c)

Manufacturers

d)

Unlimited Liability

5.

Business that change raw goods into more finished products

a)

Corporation

b)

Producers

c)

Manufacturers

d)

Unlimited Liability

6.

Businesses that make finished products out of raw processed goods

a)

Corporation

b)

Producers

c)

Manufacturers

d)

Unlimited Liability

7.

Full legal and financial responsibility for a business.

a)

Corporation

b)

Producers

c)

Manufacturers

d)

Unlimited Liability

8.

Financial responsibility of business owners only for what they invested in a business

a)

Franchise

b)

Non Profit Organization

c)

Cooperative

d)

Limited Liability

9.

A contractual agreement to use the name and sell the goods or services of an existing company

a)

Franchise

b)

Non Profit Organization

c)

Cooperative

d)

Limited Liability

10.

A business whose main purpose is to provide a service rather than to make a profit.

a)

Franchise

b)

Non Profit Organization

c)

Cooperative

d)

Limited Liability

11.

An organization of businesses owned and operated by the members who pool their resources and share the benefits.

a)

Franchise

b)

Non Profit Organization

c)

Cooperative

d)

Limited Liability

12.

A type of business that buys goods in large amounts and resells them to other businesses in smaller lots.

a)

Wholesaler

b)

Retailer

c)

Cooperative

d)

Limited Liability

13.

A business that sells goods or services directly to the public.

a)

Wholesaler

b)

Retailer

c)

Cooperative

d)

Limited Liability