Show:
Proprietorships
Partnerships
Misc.
LLC/LLP
Corporations
100
The most common type of business
What is a sole proprietorship
100
This partner has unlimited financial liability
What is General Partner
100

A type of business that is important to society but lack potential to make a profit therefore typically funded by the government

Quasi Public Corporation

100

True or False an LLC can have more than one owner

True

100

A person who owns a piece of a corporation

Stockholder / Share Holder

200
When the partner/owner is personally responsible for the debts of the business they are said to have
Unlimited Financial Liability
200
A limited liability partner that is not known to the public but does participate in the operations of the business
What is a secret partner.
200
When revenue is greater than expenses, your business is said to have made a...
What is profit.
200

LLP stands for

Limited Liaibiltiy Partnership

200
How are corporations taxed twice

Corporate Taxes and Dividends are Taxed.

300
excessive bureaucracy or adherence to rules and formalities, especially in public business.
What is red tape
300
May be known to the public but not actively participate in management
What is Silent Partner
300
List 3 government organizations you can utilize for business assistance.
What is SBA, SCORE, CBIA , CT DRS, Chamber of Commerce
300
How are LLCs taxed

Like a sole propritorship

300

The business name Carrera, Rivera and Co indicates how many partners

3

400
List 4 advantages of a proprietorship
answers will vary
400
List 4 advantages of a partnership
answers will vary
400

A type of business when 2 companies team up together to provide a better product / service

Joint Venture

400

LLCs avoid double taxation and unlimited liability. How?

The are taxed as a sole proprietorship 

The business acts as an artifical person.

400

Profits distributed to shareholders on a per share basis 

dividends

500
What tax form do you file on your personal income tax return for a sole proprietorship?
What is a Schedule C
500

What parent company purchased Ben & Jerry's?

Unileaver

500
Where were Ben & Jerry Born
What is Brooklyn NY
500
What types of business typically structure as an LLP

Doctors, Lawers, Professional Services.

500

A business owned by a group of people and authorized by the state in which it is located to act as though it were a single person, seperate  from its owners is called 

Corporation