9.1
9.2
9.3
More Chapter 9
Random
100
Name an Element of Business operation (there are 4)
Risk, Expenses, Advertising, Record Keeping
100
a smaller businesses that is run by one person
Sole Proprietorship
100
An organization owned by many people but treated by the law as though it were a person
Corporation
100
The structure of a corporation can best be described as a
Pyramid
100
What animal is this? (Be specific)
Great White Shark
200
What is missing from the following formula for determining profit:
Total Revenue - ____________ = Profit
Expenses
200
A business that is run/owned by two or more people
partnership
200
Corporations can choose to sell ______ which gives people partial ownership of that company.
stock
200
A contract in which a franchisor sells to another business the right to use its name and sell its products
Franchise
200
Who is this person?
Tom Brady
300
Provide an example of an expense
answers will vary
300
A temporary partnership set up for a specific purpose and for a short period of time
Joint Venture
300
A CEO must answer to the ____________ ____ ______ in a company
board of directors
300
The two types of stocks available are:
Common and Preferred
300
What is the state reptile of Michigan?
Painted Turtle
400
A person who starts a business to gain profits and is willing to take the risks involved
Entrepreneur
400
Every day on your way to basketball practice you wave to Mr. Martin, who owns the neighborhood flower stand. Mr. Martin’s store is probably a...
Sole proprietorship
400
Board of directors must answer to the ___________ of company
shareholders/stockholders
400
an object or factor that is costing the company money (also called debt)
Liability
400
What is the nickname of the manatee?
Sea Cow
500
A supply of whatever is needed to run or start a business is known as:
Inventory
500
When Mark Cuban invests 300K for 10% of a company he becomes a ____________ _______________. Which is a form of business where partners are not equal.
limited partnership/silent partner
500
These articles include four items:
Name, address, and purpose of corporation
Names and addresses of the initial board of directors
Number of shares of stock to be issued
Amount of money capital to be raised through issuing stock
articles of incorporation
500
To form a corporation, founders must do three things:
They must register their company with the government of the state where it will be headquartered
They must sell stock
They must elect a board of directors
500
What animal is this?
Giant Water Bug