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