Corporation
This person leads and controls an organization as Chief.
A C.E.O.
This many people own a Sole Proprietorship.
One.
These many people are needed to make a partnership.
A document that defines in detail a company's objectives.
A business plan.
These people own a corporation.
Shareholders/Stockholders
Is a Sole Proprietorship locally owned or franchised?
Locally owned.
True or False:
Some partners only provide financial support.
True.
This billionaire's business plan started with him selling items on the internet out of his parents' garage.
Jeff Bezos
This American department makes the guidelines for Corporations.
The I.R.S.
True or False:
A sole proprietorship and the owner are the same entity.
True
These are the three types of partnerships.
general partnership, limited partnership, and limited-liability partnership.
This type of business is known for its limited liability and increased flexibility for financing and tax planning.
A corporation.
An LLC with multiple owners would be taxed like...
A partnership.
True or False:
A Sole Proprietorship can have multiple franchises.
True
"Silent Owner"
Increased personal liability, it is difficult to raise startup money, and you are 100% responsible for this type of business.
A sole proprietorship.
LLC stands for.
Limited liability company.
A baker owns a sole proprietorship, they have a wife and three kids and did not write who the bakery will specifically go to in their will. By default, the bakery goes to...
Nobody. It dies with the owner.
The top advantage of a partnership.
shared responsibility
The exclusive control over the supply and trade of a product.
A monopoly.