Show:
Organization
Advantages
Disadvantages
Examples
100
A business owned and managed by a single individual.
What is Sole Proprietorship.
100
List at least 2 Advantages of a Sole Proprietorship.
What is 1.) Easy to start. 2.) Few regulations. 3.) Sole proprietor has full control and gains full profit.
100
List at least 2 Disadvantages of a Sole Proprietorship.
What is 1.) Unlimited personal liability, 2.) limited access to resources, 3.) Limited life, 4.) has trouble finding and keeping good employees.
100
List at least 2 examples of a Sole Proprietorship.
What is 1.) local bakery, 2.) local barber shop, 3.) hair salon.
200
A business organization owned by two or more persons who agree on a specific division of responsibility.
What is Partnership.
200
List at least 2 Advantages of a Partnership.
What is 1.) Easy to establish, 2.) Few Regulations, 3.) Shared decision making.
200
List at least 2 Disadvantages of a Partnership.
What is 1.) Unlimited liability, 2.) Potential for conflict, 3.) Profits must be shared.
200
List at least 2 examples of a Partnerhsip.
What is 1.) A Law firm, 2.) A single resturaunt (one of a kind)
300
A legal entity, or being, owned by individual stockholders, each whom faces limited liability for the firm's debts.
What is Corporation.
300
List at least 2 Advantages of a Corporation.
What is 1.) Limited liability for owners, 2.) Transferable ownership, 3.) ability to attract capital.
300
List at least 2 Disadvantages of a Corporation.
What is 1.) Expensive and difficult to start, 2.) Double taxation.
300

List at least 2 examples of a corporation.

What is 1.) Subway, 2.) H&R Block, 3.) Wingstop

400

A piece of ownership in a corporation.

What is a stock.

400

This form gets double taxed.

What is a corporation?

400

This form can have too many people making decisions making it difficult to get things done.

What is a partnership?

400

Tesla.

What is a corporation.

500

A business that resales goods and services from producers to customers.

What is an intermediary?

500

Which two forms cease to exists whenever an owner chooses not to continue?

What are partnerships and sole proprietorships?

500

Which forms can owners be personally liable for damages if the business does not have the funds to pay a lawsuit?

Sole proprietorships and partnerships.

500

Billy Bob's smoked turkey jerky.

What is a sole proprietorship?