sole proprietorship / partnerships
Corporations / other organizations
100
most common form of business
What is sole proprietorship
100
decision makers in a corporation
What is the board of directors
200
legal obligation to pay off debts
What is liability
200
organizations that benefit society and operate like a business
What is nonprofit organization
300
if a general partnership fails, who is responsible for all the debts?
What is all of the partners
300
union and company representatives meeting to negotiate a new labor contract
What is collective bargaining
400
disadvantage of a sole proprietorship
What is lack of permanence
400
corporations are defined as legal entities because they
What is have a legal identity separate from those of their owners
500
a payment other than wages or salaries
What is a fringe benefit
500
third party reviews dispute and imposes legally binding decision
What is arbitration
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