Flashcards
Business/Ownership Types
Cards in this deck (8)
- 1provides a needed service for a fee (dog walking)Service Business
- 2buys finished products and resells them to individuals or other business (department stores)Merchandising Business
- 3buys raw materials, uses labor and machinery to transform them into finished products, sells them to individuals or other businesses (Factories)Manufacturing Business
- 4business owned by one person (small, privately owned business)Sole Proprietorship
(ownership) - 5business owned by two or more people who agree to operate a business (Google; started by Larry Page and Sergey Brin)Partnership
(ownership) - 6business recognized by law to have a life of its own (Coca-Cola)Corporation
- 7where the owners are not personally liable for the company's debts or liabilities. A combination of a corporation and sole proprietorship or partnership (Amazon)Limited Liability Corporation
- 8Person who forms ideas for products or services into real-world businesses; may be a small business owner ( Bill Gates; co-founder of Microsoft)Entrepreneur
Information
- Description
- 3 Business types and 4 ownership types with examples in parentheses
- Created by
- Samantha Mendez · Mar 2021
- Updated
- Mar 4, 2021
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