Business Organizations
Partnerships
Corporations
Consolidation
Section 4
100
The most common type of business organization in the United States
What is Sole proprietorship
100
Partnership in which at least one partner is not involved in the day-to-day running of business and liable only for the funds he or she has invested.
What is a limited partnership
100
A corporation that issues stock that can be freely bought and sold is called...
What is a Public Company
100
Joining of companies that offer the same or similar products or service.
What is a Horizontal merger
100
Business made up of semi-independent businesses that all offer the same products or services.
What is a Franchise
200
Sole Proprietorships account for what % of all businesses in the United States
What is 70%
200
Is a partnership in which all partners are limited partners and not responsible for the debts and other liabilities of the other partners.
What is LLP
200
Corporations make up what % of the number of businesses in the United States
What is 20%
200
Results from a merger of companies that produce unrelated goods or services.
What is Conglomerate
200
What are the most common Franchises?
What are fast food restaurants
300
Sole Proprietorships generate less than what % of all sales by American Businesses
What is 5%
300
Partners share responsibility, liability, and profits equally, unless there is a partnership agreement that states otherwise.
What is general partnership
300
Government agency that oversees the sale of stocks
What is the SEC(Securities and Exchange Commission)
300
Large corporation with branches in several countries
What is multinational
300
What is one disadvantage of a Franchise?
What is .....
400
Situation in which a business ceases to exist if the owner dies, retires, or leaves the business for some other reason.
What is Limited Life
400
True/False General partners act as part owners of the business and they share in the profits.
True
400
One that retains control over who can buy or sell stocks
What is a private company
400
What is an example of conglomerate we used in our notes in Chapter 8?
What is Gulf and Western in the 1960s
400
What is one advantage of a Franchise?
What is .....
500
Easy to open or close, few regulations,freedom and control, owner keeps profits.
What are advantages of a sole proprietorships
500
True/False If one partner makes a mistake in an LLP that ends up costing the business a lot of money, the other partners can be held liable.
False
500
Corporations are owned by....
What is shareholders or stockholders
500
What are two examples of a multinational corporation?
What is Coca-Cola, Google, McDonalds, Nike, Sony
500
What are three types of cooperatives?
What are consumer, service, producer
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