A form of business ownership in which the business is owned and run by one person.
A _____________ is owned by one or more shareholders and managed by a board of directors.
A partnership agreement details the rules and procedures that guide ownership and operations and will typically identify the business name, investments, and other contributions of each partner.
A(n) ______________________ is a combination of a partnership and a corporation which provides liability protection for the owners with a simpler set of organizing and operating requirements than a corporation.
A(n) ________________ is a written contract granting permission to operate a business to sell products and services in a set way.
These type of entities typically work in areas such as education, health care, charity, or the arts.
Partnerships are free from income taxes.
Sole proprietorships provide tax advantages for the owner.
The company or person purchasing the rights to run the business is the franchiser.
A franchise is a way to expand a business using the investments of others while maintaining control over the name, product quality, and operating procedures.