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, Business Characteristics, Ownership & Registration Review -Slov.pdf Business Characteristics, Ownership & Registration Review -Slov.pdf Business Characteristics, Ownership & Registration Review -Slov.pdf
Terms in this set (67)
What are the four different types of business ownership? Sole proprietorship, Partnership, corporation, and franchise
What is a sole proprietorship? A business owned by one person
What is the most common business ownership? Sole proprietorship
What are the advantages of a sole proprietorship? less taxes, government regulations, profits to your own business, relatively easy to
start, and easy to maintain
What are the disadvantages of a sole proprietorship? It is harder to raise money to expand the business, responsible for all business
debts and losses, and high start cost
What is a partnership? a business owned by two or more people
What is the least common form of business? partnership
What is the difference between a general partnership A general partnership shares equal liability and a limited partnership is an unequal
and a limited partnership? share and liability
Business Characteristics, Ownership & Registration Review -Slov.pdf Business Characteristics, Ownership & Registration Review -Slov.pdf Business Characteristics, Ownership & Registration Review -Slov.pdf