Sole proprietorship
How many people are involved?
One!
True or false- Only two people an be owners for it to be a partnership
False!
Does a Corporation have Limited or Unlimited Liability
Limited
Does a co-op run for profit
No
What does a public enterprise provide
Goods and services to the public
One person owns and _____ the business
Operates
Name one advantage of a partnership
Easier to raise capital, larger scale, share the workload, share decisions, each partner has a certain expertise
Does a corporation have the same rights as a human
Yes
How many votes does each member get
One
When public enterprises compete in the private sector, is it seen as an unfair advantage
Yes
Name one of the most common form of sole proprietorship found in Canada?
Services such as Retail, restaurants and repair
Describe Articles of co-partnership
A formal agreement signed specifying the amount of capital to be provided and the authority of each partner
What are the three main types of ways corporations raise money by selling securities
Common shares, Preferred shares and Bonds
!! Daily Double !! - Name two of the three types of co-ops
Consumer Co-Ops, Producer Co-Ops and Credit Unions
Name One example of public enterprises being limited
Government cuts and privatization
Name 3 advantages in Sole proprietorship
You're the boss, You make the decisions, You get the profits, personal satisfaction, easy to get started
Does a silent partner have a say in how the business is run
No
What is the main difference between Common and perferred shares
Preferred gets paid first but dosen't have a vote unlike common shares
Name 2 advantages of Co-Ops
Patronage refund, each member has equal say
Public Utility- A _____ monopoly
Legal
Name 4 Disadvantages of Sole proprietorship
Size is limited, you supply the financing, You do all the work, unlimited liability, you have limited skills
Name the country that Mr.Tremblay used as an example when explaining silent partners
UAE
What does AGM stand for
Annual general meeting
Name 2 disadvantages of Co-Ops
Difficulty competing in the private sector, less aggressive in the marketplace
!! Daily Triple !! - Utilities are controlled by the _____
Public Utilities board (PUB)