A __________ is a business owned and operated by a single individual.
A __SOLE_PROPRIETORSHIP______ is a business owned and operated by a single individual.
In a __________ partnership, all partners have unlimited liability.
In a general partnership, all partners have unlimited liability.
A _________ is a legal entity separate from its owners, also known as shareholders.
A corporation is a legal entity separate from its owners, also known as shareholders.
A ____________ is a hybrid structure combining elements of corporations and partnerships.
A Limited Liability Company (LLC) is a hybrid structure combining elements of corporations and partnerships.
In a limited partnership, a limited partner's liability is up to the amount of their _______.
In a limited partnership, a limited partner's liability is up to the amount of their investment.
What does BMC stand for?
What does BMC stand for?-Business Model Canvas
What is a royalty fee?
A royalty fee is an ongoing payment made by the franchisee to the franchisor, typically a percentage of the franchisee's gross sales.
An ________is a special type of corporation that avoids double taxation.
An S Corporation is a special type of corporation that avoids double taxation.
Non-profits always lose money-true of false
Non-profits always lose money- false
Why would a person set up a business as an LLC
Why would a person set up a business as an LLC-Liability
Which is most likely to be a sole proprietorship? (write the letter)
A small business with one location
A business with locations across the country
A franchise
A company that trades on the stock market
A
DOUBLE JEOPARDY
Why did Microsoft, Apple, Facebook, and HP turn into corporations?
for company protection and to make more money
give one example of a corporation from the slideshow
Coca-Cola, Walmart, McDonald's, or Google
DOUBLE JEOPARDY
A corporation whose ownership is distributed amongst general public shareholders through _________ traded stock shares
publicly
people who hold shares in a corporation - can be referred to as members of the corporation
stockholders
a business owned and operated by __________
one person
The relationship between ____ or more people to do trade or business
2
DOUBLE JEOPARDY
What is the biggest corporation in America
Walmart
Apple, Tesla, Nike, or Starbucks
A business that gives the right to another person or business to sell goods or services using its name
Franchise
Key advantage of a sole proprietorship
Key advantage of a sole proprietorship: Control
List all 4 examples of partnerships from the slides
Microsoft, Apple, Facebook, HP
a type of organization where the ______, or shareholders are taxed separately from the entity
owners
A company does not trade its stock to the general public on the stock market exchange
a private company
a contract that outlines the terms of the business agreement between partners
partnership agreement