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.chapter5.
Business Organization
Question | Answer |
---|---|
What is one who has no explicit or implicit contract for long-term employment? | contingent worker |
What are businesses involved in selling the goods and services of producers to consumers and other businesses? | intermediaries |
What carries out activities that are consumed by its customers? | service business |
What is a business owned and controlled by two or more people who have entered into a written agreement? | partnership |
What is a business owned and run by just one person? | proprietorship |
What is a serparate legal entity formed by documents filed with your state? | corporation |
What is a written agreement among all owners? | partnership agreement |
What is a written legal document that defines ownership and operating procdures and conditions for the business? | articles of incorporation |
What is a written contract granting permission to operate a business to sell products and services in a set way? | franchise |
What is a short, specific written statement of the reason a business exists and what it wants to achieve? | mission statement |