In TERMS of...
Going into Business
Sole Proprietorship
Partnership
Corporation
100
A person who organizes and runs a business
What is an ENTREPRENEUR
100
Starting a new business, buy an existing business, buy a franchise, join a family business
What is WAYS OF GOING INTO BUSINESS
100
Owned by this many people
What is ONE
100
A legal arrangement in which two or more people share ownership
What is PARTNERSHIP
100
A business chartered by a state that legally operates apart from the owner(s)
What is CORPORATION
200
Anything of monetary value that you own
What are ASSETS
200
Requires more time and effort than buying an established business
What is STARTING A NEW BUSINESS
200
Least regulated form of ownership
What is SOLE PROPRIETORSHIP
200
More ___________________ than a sole proprietorship
What is COMPLICATED
200
This business is the most____________________to set up
What is EXPENSIVE
300
The difference between assets and liabilities
What is NET WORTH
300
The legal right to sell a company's goods and services in a particular area
What is FRANCHISE
300
Owner has sole ______________________responsibility for the company in terms of money
What is FINANCIAL
300
This may develop among partners
What is TENSION
300
Corporations are easier to ________________than other forms of business
What is FINANCE
400
Income from sales
What is REVENUE
400
Paying a portion of your profits to the parent company and following the parent company's guidelines are disadvantages for this type of business
What is FRANCHISE
400
Sole proprietorship is the _________________ form of business to set up
What is EASIEST
400
All partners are legally responsible, or ___________, for the debts of the business
What is LIABLE
400
Owners buy shares in the company and are known as ____________________.
What is SHAREHOLDERS
500
Amount left after operating expenses are subtracted from the gross profit
What is NET PROFIT
500
Sole proprietorship, partnership, corporation
What are FORMS OF LEGAL OWNERSHIP
500
Sole proprietorship is limited by the financial resources, abilities, and this, of one person
What are SKILLS
500
Control and profits are shared among partners according to this
What is PARTNERSHIP AGREEMENT
500
Management, competition, and ___________________ are the main factors that affect business success
What is LOCATION
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