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Business Organizations.

A business owned and controlled by one person is called a _____-__________________. sole-propietorship
An advantage of a sole-propietorship is that the owner _______________________________________________________________. makes all decisions and keeps all of the profit.
The debt or amount of money owed by a business is called _____________. liability.
One disadvantage of a sole-propietorship is that owners have unlimited liability. This means that __________________________________________. personal possessions are at risk.
A partnership is _______________________________. A business owned by two or more people.
In a ________________ specific duties can be assigned to different people based on talent and expertise. partnership
There is always a potential for _____________ in a partnership. conflict
To raise money a corporation can issue a _______, which is a certificate of ownership. stock
A corporation is owned by ___________________________ shareholders
The individuals who set the policies and goals for a corporation are called the ______________________________________. Board of Directors.
A corporation can also issue and "IOU", which promises to pay back the face value plus interest. This is called a __________. bond.
Though a sole-propietorship is the most common form of business organization in the US, _______________ make the most money. (expensive to start, and takes a long time). corporation
One disadvantage od a corporations is that they get taxed twice; once on their earnings and then on the ________________ they pay the stockholders. dividend
A _____________ is a semi-independant business that must follow strict operating rules. franchise
One advantage of a franchise is that the parent company spends money on _________________________________, which can benefit all franchises. national advertising
One disadvantage of a franchise is that its owner must pay ________________ to the parent company, which can sometimes be high. royalties
An example of a __________________ is a credit union. cooperative
____-_________________________________ do not pay income tax but often find it hard to attract and retain good employees Non-profit Organizations
Corporation, also known as "______" or "__________" "inc" or "corp."
McDonalds, Subway, and Dunkin Donuts are all examples of a __________________. franchise.
North Shore Animal Center, Red Cross, and Island Harvest are all examples of a _______-_____________________________. Non-profit Organization.
__________________ make the most money, whereas a ________-_____________________ has the most businesses in the US. Corporations, Sole-propietorship
Created by: brobles12