Types of Businesses
I
Types of Businesses
II
Types of Businesses
III
Types of Businesses
IV
Types of Businesses
V
100
A business that moves goods from one business to another.
What is an intermediary?
100
The business or art of money management.
What is finance?
100
This means the owner is responsible for the company's debts.
What is unlimited liability?
100
These are also known as a distributer.
What is a wholesaler?
100
The process of creating, expanding, manufacturing, or improving goods and services.
What is production?
200
A type of business that focuses on providing a service and not on making a profit.
What is a nonprofit organization?
200
An organization that is owned and operated by its members.
What is a cooperative?
200
The buying and reselling of goods that have already been produced.
What is procurement?
200
The process that involves getting consumers to buy a product or service.
What is marketing?
200
A contractual agreement to use the name and sell the products or services of a company in a designated geographic area.
What is a franchise?
300
This group is formed to save money on the purchase of certain goods and services.
What is a cooperative?
300
These are the three main types of business organizations.
What are sole proprietorship, partnership, and corporation?
300
Sole proprietorships make up about ________ % of all businesses in the U.S.
What is 75?
300
In this type of business, income is taxed twice.
What is a corporation?
300
This is the MAJOR disadvantage of owning a sole proprietorship.
What is unlimited liability?
400
This is the biggest advantage to owning a partnership rather than a sole proprietorship.
What is "getting financing or a bank loan"?
400
This is the business with which customers usually deal directly.
What is a retailer?
400
This statement describes the difference between processed and unprocessed goods.
What is "anything found in nature that has not been altered" (or words to that effect)?
400
These are three examples of actual businesses that are not franchises and three examples of actual businesses that are franchises.
What are (answers may vary): Franchise: McDonald's, most fast-food, nation-wide businesses, etc. Not franchise: Sears, Wal-Mart, any "Mom and Pop" businesses (name them)?
400
This type of business has these advantages: decisions are made together, it is easier to get loans, each person brings different skills and talents to the business.
What is a partnership?
500
Corporations generate _______ % of total business revenue.
What is 85?
500
This type of business requires a charter from the state.
What is a corporation?
500
In this type of business, the business contract requires that you invest money and either pay fees or share a portion of your profits.
What is a franchise?
500
This business function includes maintaining and checking records, handling bills and preparing financial reports for a business.
What is accounting?
500
This is the money made as a result of owning a share of stock.
What is a dividend?
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