Types of Business
What term is used to describe all business organizations legally?
Legal Entity
What is a sole proprietorship?
A business owned by one person
Turning plaintext into coded text is called what?
Encryption
What protects your credit card information when shopping online?
Encryption
What encryption standard is used to secure Wi-Fi and files today
AES
Name one of the most common forms of business organizations.
Sole proprietorship / Partnership / Corporation / LLC / Non-profit / Franchise
When does a sole proprietorship begin?
When someone starts offering goods or services
Turning coded text back into readable text is called what?
Decryption
What protects your passwords so they are not stored as plain text?
Hashing
What encryption method is used for secure websites (lock icon)?
RSA
Which business type is owned by one person?
Sole proprietorship
What is one advantage of a sole proprietorship?
Keep all profits
What is the original readable message called?
Plaintext
What type of encryption uses one key for both encrypting and decrypting?
Symmetric Encryption
What process turns passwords into a fixed, unreadable string?
Hashing
Which business type involves two or more co-owners?
Partnership
What is one major disadvantage?
Owner is responsible for all debts and liabilities
What is the coded message called?
Ciphertext
What type of encryption uses a public key and a private key?
Asymmetric Encryption
What process turns passwords into a fixed, unreadable string?
Asymmetric Encryption
Which business type can sell stock?
Corporation
How is income taxed in a sole proprietorship?
As personal income
What is the secret value used to encrypt/decrypt?
Key
Name one modern encryption method mentioned in the lesson
AES, RSA, or SHA-256
What is hashing mainly used to protect?
Passwords