Intro to Business final- Duplicate of Business Ownership Review
Sole Prprietorship
A for- Profit Business that is owned and operated by a single person
Unlimited Liability
A partnership carries the risk of
Silent Partner
A person who invests in a business but takes no part in the day-to-day operations
Corporation
A separate legal entity which is owned by a shareholder and managed by a board of directors
Fewer than 100 stockholders
A subchapter S corporation is designed to accommodate small business that have
Fictitious Name Registration
In some states, a DBA license in known as a
Flexibility
One of the advantages of a family- owned business
Franchisor
The company that sells the right of a franchise is the
Low Start- Up Costs
Which of the following is not an advantage of purchasing a franchise
International Franchise Association
Which of the following originations regulate the franchising industry