A for-profit corporation with a lower tax rate that prevents the company from being double taxed

Profits are taxed when earned, and then the shareholders' dividends are taxed after they are distributed. This legal structure is best for international businesses

Allows the owner to pay taxes on their profits or losses through their own taxes using a personal tax rate. This legal structure is ideal for a single owner seeking low risk

Easy to create, but comes with unlimited liability

Shared financial backing

Has no ownership and pays no US federal taxes

Makes major decisions for the company, oversees operations and resources, comes up with the company's vision, strategies, and mission, and reports to the board of directors

Manages and plans the cash flow, creates budgets, and forecasts whether the company will meet the set budget requirements

Oversees the business's day-to-day operational and administrative functions

The individual that developed or created the company or organization

The individuals or groups that have an interest in the success of a company

Votes on the management of the company and whether to remove the CEO should the occasion arise

Responsible for completing specific assigned tasks while adhering to the company's safety and ethical guidelines and policies

One or more people share the business's financial responsibility, including record keeping, paying taxes, distributing profits, marketing, and the company's day-to-day functions

The highest-ranking employee in the company; reports to the board of directors.

Creates budgets, analyzes financial data, and forecasts company profits.

Develops policies and structures to protect company data.

Oversees the day-to-day administrative functions of a business; second in command.

Jill is an investor in a full detail car wash, she has been very pleased in the company after helping choose a CEO a couple of months ago. Which best describes Jill's role in the car wash?

Select the businesses that are physical

Select the businesses that are Digital

A non- profit has a ______________ status

You need a legal structure for your small business. You want some of the benefits enjoyed by a large corp, but do not want to be taxed twice. You have 4 partners who will be shareholders. You also want to be protected from business liabilities. Which is best for you?

You need to create a legal structure for your small business. You want it to grow in the future. Your startup partners are citizens of Mexico and Japan. You do not want to be personally liable.

Which Corp uses a double layer of taxation?

What are TWO benefits of entrepreneurship?

Select the B2B (Business to Business operations)

Select the B2C (Business to Consumer operations)

Ellen purchased Cruella before the release date on Disney +. He received immediate access to the movie. What type of e-commerce product did she purchase?

What's the difference between entrepreneurs and small business owners?

Select the Products

Select the Services

What is the main drawback of a sole proprietorship?

Owned and managed by one individual or sometimes a small group of people with a focus on generating profits

An individual with an idea to offer an innovative product or service about which they are passionate

A business where the owner licenses their operations, products or services, branding, and knowledge for a royalty fee

Which is a disadvantage of an S Corp?

In general, which 2 characteristics define a "small business"?