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6 Cards in this Set
- Front
- Back
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Sole Proprietorship |
A business owner and managed by one person |
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Liability |
The legal responsibility to repay debts and for damages resulting from a lawsuit |
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Partnership |
A business owner by two or more co-owners. |
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Corporation |
A business owner by shareholders who have limited liability for the firms debt |
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Business Franchise |
An arrangement in which a parent company, or franchisee, distributes its products or services through independently owned outlets |
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Non-profit Organization |
A organization that functions like a business but does not operate to make a profit |
