Econ M3 Lesson 4
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A type of business organization that is treated as a legal person and whose owners (shareholders) enjoy limited liability is a
corporation
Which of the following is NOT an advantage of a sole proprietorship?
limited liability
A business organization owned by two or more people who share in the company's profits and losses, but who must incur unlimited liability is a
partnership
The chance of losing money on an investment is referred to as __.
risk
A type of business organization that is owned by one person who gets all the profit of the business but assumes all of the risk is a
sole proprietorship
A piece of ownership in a company like McDonald's, IBM, Walmart, or Microsoft is a called a share of _________________________.
stock
