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.chapter5.

Business Organization

QuestionAnswer
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
Created by: schreiner