Marlene decided to use her skill as a seamstress to start a custom curtain business. She makes all of the decisions in the business, but faces unlimited liability if she cannot pay the bills. Marlene's business is considered a:

A corporation is taxed on profits. Once those profits are dispersed to the stockholders through dividends, the stockholders are taxed as well. This is an example of:

The Scott Company decided to sell stock to raise capital. Under what form of business organization does the company operate?

Choose an advantage of sole proprietorships.

A business owned by two or more people who share the risk of loss and the chance for profit is known as a:

An agreement in which both partners share equally in the profit and/or loss of the business is a:

A form of business ownership that operates under a charter issued by the state is called a(n):

Which form of ownership has the advantage of limited liability for stockholders?

The form of ownership taxed less than other forms of business ownership is the:

The financial responsibility of the business owner to pay for any losses is:

If a sole proprietorship goes bankrupt, personal finances may be used to pay expenses. This is:

The life of business is limited to the life or interest of the owner. This is a disadvantage of:

A business owned and operated by two or more people is a:

In which type of partnership is each partner liable for all debts incurred by the business?

Which type of partnership must have at least one general partner who has unlimited liability?

Microsoft is owned by thousands of people who purchase stock in Microsoft. Microsoft is a:

What is a legal entity that is chartered by the state in which the business is located?

Boards, directors, and officers manage the daily operations of a:

What type of corporation does not offer shares of stock for sale to the general public?

What type of corporation offers shares of stock for sale to the general public?

Limited liability for stockholders in an advantage of a:

Complex to start up and dissolve is a disadvantage of a:

Which is a combination of both a partnership and a corporation?

The earnings of LLC are taxed only once. This is an example of:

Which type of business has one owner?

A business owned by stockholders is a:

Double taxation is a disadvantage of a:

Complex record keeping is a disadvantage of a:

Pass-through taxation is an advantage of a: