(Types of Business Ownership Key Terms) (Business Class)
Two or more persons to carry on as co-workers of a business for a profit.
Each stock equals one ___ at the shareholder meeting.
Type of liability in which you can lose all your assets.
By proof of existence
Formed by the way two or more people conduct their business.
Entity with the legal authority to act as a single person.
Partner has an active role, but unknown existence.
Grants permission to sell its products and services as a business.
Business owned by one person.
Partnership formed after they agree to conditions in a contract.
Type of corporation that benefits the public and receives a tax break.
Abbreviation for a partnership with limited liability.
Partner has no role, but is known to public.
Type of taxation on a corporation.
Type of liability in which you only lose your initial investment in the company.
Partner plays no role and is not known to public.
________ of incorporation.
Partner has an active role, unlimited liability.
Formed by a group to gain bargaining power.
________ venture is a special project for a limited time.