Sole Proprietorship
This is the biggest advantage of a sole proprietorship.
full control
A business owned by two or more people is called this.
a partnership
A corporation is legally separate from this
It's owner
A Crown Corporation is owned by this entity
government
his is a business model where individuals buy the right to use an established brand.
a franchise
The owner of a sole proprietorship is responsible for this type of liability.
Unlimited liability
A partnership is a business owned by how many people?
two or more
Who owns a corporation?
Shareholders
Name one services of a crown corporation
Answers may vary
The person who buys a franchise is called this
franchisee
A sole proprietorship is taxed as this type of entity.
personal income tax
In a limited partnership, one partner has unlimited liability while others have this.
limited liability
The shareholders of a corporation elect this group to make major business decisions.
Board of Directors
One reason for the existence of Crown Corporations is to provide services that are ___.
essential to the public
The company that sells the franchise rights is called this.
a franchisor
The biggest disadvantage of a sole proprietorship.
Unlimited liability
This type of partnership allows all partners to share equal management responsibilities.
a general partnership
This type of corporation’s shares are sold on the stock market.
public corporation
Unlike private corporations, Crown Corporations do not prioritize this.
Profit
Franchisees must pay these regular fees to the franchisor.
royalties
If the owner of a sole proprietorship stops working, what happens to the business?
Closes Down.
A major risk of a partnership is that partners are liable for each other’s ____.
debts and decisions
The process of combining two corporations into one is called this.
a merger
Name a Crown Corporation that helps people in Canada watch TV and listen to the radio.
CBC (Canadian Broadcasting Corporation)
This is one disadvantage of franchising for a franchisee.
lack of control over business decisions