A business entity that is owned by its shareholder(s) and who elects a board of directors to oversee the organization's activities is called

A business where two or more people share ownership is called a

A business owned by one person is called a

Which business type offers pass through taxation?

Which business structure offers limited liability protection?

Which business type has perpetual life?

Transfer of ownership is allowed in which type of business?

All profits remain in the business in this business type

This type of business is tax exempt

This business often operates under own name.

Which type of business has unrestricted pay

Which type of business pays personal income tax on business profits?

Which type of business can lack structure?

Which business model offers employee-owner seperation?

One disadvantage of this business model is double taxation

This business type has NO owners

This business type has a potential exposure to liability as a disadvantage

One disadvantage to this type of business is that it can have an uncertain lifetime

This business type can have external sources of funds

This business can have unlimited partners

This business is known to be "easy to form"

An advantage to this business structure is the availability of capital and credit

This business model may qualify for government or foundation grants

One disadvantage of this business is the fees that you must pay

The distribution of profits can be a disadvantage to this business

A disadvantage of this business is that you MUST disclose information to the public

The expansion potential of this business is an advantage

This business must qualify for a 501 (c)(3) status or sales tax exemption

This business must be formed for educational or charitable purposes

It can be difficult to get capital in this business type

This business type offers tax flexibility

This business type offers the advantage of combined knowledge and skills

This business type has protection from liability for the directors and employees

This business is liable for the actions and finances of the business - the shareholders are not liable.