Sole Proprietorship
Partnership
Corporation
Public/Private
Random
100

A __________ is a business owned and operated by a single individual.

A __SOLE_PROPRIETORSHIP______ is a business owned and operated by a single individual.

100

In a __________ partnership, all partners have unlimited liability.

In a general partnership, all partners have unlimited liability.

100

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.

100

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.

100

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.

200

What does BMC stand for?

What does BMC stand for?-Business Model Canvas

200

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. 

200

An ________is a special type of corporation that avoids double taxation.

An S Corporation is a special type of corporation that avoids double taxation.

200

Non-profits always lose money-true of false

Non-profits always lose money- false

200

Why would a person set up a business as an LLC

Why would a person set up a business as an LLC-Liability

300

Which is most likely to be a sole proprietorship? (write the letter)

  1. A small business with one location

  2. A business with locations across the country

  3. A franchise 

  4. A company that trades on the stock market

A

300

DOUBLE JEOPARDY

Why did Microsoft, Apple, Facebook, and HP turn into corporations? 

for company protection and to make more money

300

give one example of a corporation from the slideshow

Coca-Cola, Walmart, McDonald's, or Google

300

DOUBLE JEOPARDY 

A corporation whose ownership is distributed amongst general public shareholders through _________ traded stock shares

publicly

300

people who hold shares in a corporation - can be referred to as members of the corporation

stockholders

400

a business owned and operated by __________

one person

400

The relationship between ____ or more people to do trade or business

2

400

DOUBLE JEOPARDY

What is the biggest corporation in America

Walmart

400
Give at least 2 examples of corporations that are public

Apple, Tesla, Nike, or Starbucks

400

A business that gives the right to another person or business to sell goods or services using its name

Franchise

500

Key advantage of a sole proprietorship

Key advantage of a sole proprietorship: Control

500

List all 4 examples of partnerships from the slides

Microsoft, Apple, Facebook, HP

500

a type of organization where the ______, or shareholders are taxed separately from the entity

owners

500

A company does not trade its stock to the general public on the stock market exchange

a private company

500

a contract that outlines the terms of the business agreement between partners 

partnership agreement

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