Service jobs are the lowest paying jobs in the U.S. economy.

Most states require proprietorships to register a business name.

A corporation’s owners have access to profits only if the board of directors approves it.

A cooperative is a special type of corporation that allows all income to be passed through to owners based on their investment and is taxed on their individual tax returns.

A goal is a precise statement of results the business expects to achieve.

There is no difference between policies and procedures.

Unity of command is the number of employees who are assigned to a particular work task and manager.

Most businesses in the US are

The form of ownership most common among U.S. businesses is

All of the following types of businesses are producers EXCEPT

The easiest form of business to start is the

A partnership

A unique business organized by two or more other businesses to operate for a limited time and for a specific project is a

The direction for a business comes from its

The obligation to complete specific work is called

A business that is owned and operated by only one person.

The operating procedures for a corporation.

An automobile factory is this type of business

Guidelines used in making consistent decisions.

In a matrix organizational structure

The people who make the major policy and financial decisions for a corporation.

A grocery store is this type of business

A business owned and controlled by at least two people who have entered into a written agreement.

A written contract granting permission to operate a business.

An Internet service provider is this type of business.

Descriptions of the way work is to be done.

A temporary or _________ worker is one who has no contract for long-term employment

The six basic business activities are generating ideas, __________, employing and training personnel, buying goods and services, marketing goods and services, and maintaining business records.

The __________________ is a written legal document that defines ownership and operating procedures and conditions for a corporation.

A(n) ________________ partnership identifies some investors who cannot lose more than the amount of their investment, but they are not allowed to participate in the daily management of the business.

A(n) _________________ is a diagram that shows the structure of a business, classifications of work and jobs, and the relationships among those classifications.