REVIEW ENTREPRENEURSHIP           OWNERSHIP           March 12, 2013
The legal form ofownership which has themost difficulty inobtaining capital.
WHAT IS. . . Sole Proprietorship
Owners of acorporation are called
WHAT IS. . . STOCKHOLDERS
An enterprise that has two or more owners.
WHAT IS. . .Partnership
Business owned by a group of people and authorized to act as though it were a single person.
WHAT IS. . . Corporation
This means that the business will be dissolved upon the death, imprisonment, or bankruptcy of the proprietor
WHAT IS. . . Limited life
Top executives who are hired to manage the daily operations of a business.
WHAT IS. . . Officers
This means the OWNERS are personally liable for all business debts.
WHAT IS. . .Unlimited liability
Persons elected by stockholders to develop long term plans and policies for a corporation.
WHAT IS. . .Board of Directors
This disadvantage has Owners being taxed on profits twice. It is Called….
WHAT IS. . .Double taxation
Ownership that lets owners have the protection from unlimited liability, the tax benefit of an individual and less than 75...
WHAT IS. . .S corporation
The ownership can operate indefinitely as long as it is profitable and does not end because of death or incapacity of the ...
WHAT IS. . .Continuous Life
Profits kept in the business for expansion are called...
WHAT IS. . .Retained Earnings
This advantage encourages employees to remain with the business by making them an owner. This is called…
WHAT IS. . .Employee incentive
When one person owns and operates a business it is called...
WHAT IS. . .Sole Proprietorship
An owner can sell the equipment, inventory and other assets whenever he/she wants to close the business. This advantage is...
WHAT IS. . .Easy Dissolution
No legal documents are required. Just a trip to Toms River to the Ocean County Clerk’s office. This advantage is called....
WHAT IS. . .Easy Start-up
This is an official document granted by a state giving power to run a corporation. It permits the enterprise to engage in ...
WHAT IS. . .A Charter
Needing a charter, an application, paying a fee and possibly hiring a lawyer and an accountant before you can open the bus...
WHAT IS. . .Complicated formation
This advantage that allows this owner to keep the financial records private.
WHAT IS. . .Secrecy
The legal document that binds ALL partners in business
WHAT IS. . .Articles ofPartnership
The most commontype of businessownership.
WHAT IS. . .SoleProprietorship
The ownership withthe easiest startup.
WHAT IS. . .SoleProprietorship
Owner is not involvedwith the daily operationsof the business.
WHAT IS. . .      Limited    Partnership
The type of ownershipwhere all profits areyours
WHAT IS. . .     Sole Proprietorship
When a partner isprotected with limitedliability it is called . . .
WHAT IS. . .      Limited    partnership
When a business’sexistence is notaffected by the death ofthe owner it is called . .
WHAT IS. . .Corporation
Business ownership best suited for a business that sells merchandise or provides a service on a small scale.
WHAT IS. . .     Sole proprietorship
Ownership that has combined management skills
WHAT IS. . .Partnership
Ownership that has little incentives for employees
WHAT IS. . .     Sole Proprietorship
Ownership where it is difficult to withdraw your investment
WHAT IS. . .Partnership
Various government reports must be submitted periodically for this type of ownership.
WHAT IS. . .Corporation
This business ownership is completely controlled by owner.
WHAT IS. . .     Sole Proprietorship
This disadvantage has owners risking their personal assets along with their invested capital. It is called…
WHAT IS. . .     Unlimited      Liability
WHAT IS. . .The most important advantage of partnerships when compared to proprietorships is __?__
WHAT IS. . .Added Capital
A sole proprietor files income tax with a __?__ form.
WHAT IS. . .1040 FORM
The place where permission is granted for a sole proprietorship.
WHAT IS. . .  Ocean County  Clerk’s Office
The city you sendyour corporationapplication is…..
WHAT IS. . .TRENTON, NJ
The ownership thatallows flexibility to havea retained earningsaccount one year andnot have one the nextyear
WHAT IS. . .S Corporation
This ownership hasLimited Liability but notdouble taxation
WHAT IS. . .S Corporationor LimitedLiability Corp.(LLC)
The ownership with aretained earning account
WHAT IS. . .Corporation
WHAT IS. . .TESTTOMORROW
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Review ownership

  1. 1. REVIEW ENTREPRENEURSHIP OWNERSHIP March 12, 2013
  2. 2. The legal form ofownership which has themost difficulty inobtaining capital.
  3. 3. WHAT IS. . . Sole Proprietorship
  4. 4. Owners of acorporation are called
  5. 5. WHAT IS. . . STOCKHOLDERS
  6. 6. An enterprise that has two or more owners.
  7. 7. WHAT IS. . .Partnership
  8. 8. Business owned by a group of people and authorized to act as though it were a single person.
  9. 9. WHAT IS. . . Corporation
  10. 10. This means that the business will be dissolved upon the death, imprisonment, or bankruptcy of the proprietor
  11. 11. WHAT IS. . . Limited life
  12. 12. Top executives who are hired to manage the daily operations of a business.
  13. 13. WHAT IS. . . Officers
  14. 14. This means the OWNERS are personally liable for all business debts.
  15. 15. WHAT IS. . .Unlimited liability
  16. 16. Persons elected by stockholders to develop long term plans and policies for a corporation.
  17. 17. WHAT IS. . .Board of Directors
  18. 18. This disadvantage has Owners being taxed on profits twice. It is Called….
  19. 19. WHAT IS. . .Double taxation
  20. 20. Ownership that lets owners have the protection from unlimited liability, the tax benefit of an individual and less than 75 stockholders is called a(n)....
  21. 21. WHAT IS. . .S corporation
  22. 22. The ownership can operate indefinitely as long as it is profitable and does not end because of death or incapacity of the owner.
  23. 23. WHAT IS. . .Continuous Life
  24. 24. Profits kept in the business for expansion are called...
  25. 25. WHAT IS. . .Retained Earnings
  26. 26. This advantage encourages employees to remain with the business by making them an owner. This is called…
  27. 27. WHAT IS. . .Employee incentive
  28. 28. When one person owns and operates a business it is called...
  29. 29. WHAT IS. . .Sole Proprietorship
  30. 30. An owner can sell the equipment, inventory and other assets whenever he/she wants to close the business. This advantage is called ......
  31. 31. WHAT IS. . .Easy Dissolution
  32. 32. No legal documents are required. Just a trip to Toms River to the Ocean County Clerk’s office. This advantage is called....
  33. 33. WHAT IS. . .Easy Start-up
  34. 34. This is an official document granted by a state giving power to run a corporation. It permits the enterprise to engage in only those business activities stated in the document. It is called....
  35. 35. WHAT IS. . .A Charter
  36. 36. Needing a charter, an application, paying a fee and possibly hiring a lawyer and an accountant before you can open the business is a disadvantage called .....
  37. 37. WHAT IS. . .Complicated formation
  38. 38. This advantage that allows this owner to keep the financial records private.
  39. 39. WHAT IS. . .Secrecy
  40. 40. The legal document that binds ALL partners in business
  41. 41. WHAT IS. . .Articles ofPartnership
  42. 42. The most commontype of businessownership.
  43. 43. WHAT IS. . .SoleProprietorship
  44. 44. The ownership withthe easiest startup.
  45. 45. WHAT IS. . .SoleProprietorship
  46. 46. Owner is not involvedwith the daily operationsof the business.
  47. 47. WHAT IS. . . Limited Partnership
  48. 48. The type of ownershipwhere all profits areyours
  49. 49. WHAT IS. . . Sole Proprietorship
  50. 50. When a partner isprotected with limitedliability it is called . . .
  51. 51. WHAT IS. . . Limited partnership
  52. 52. When a business’sexistence is notaffected by the death ofthe owner it is called . .
  53. 53. WHAT IS. . .Corporation
  54. 54. Business ownership best suited for a business that sells merchandise or provides a service on a small scale.
  55. 55. WHAT IS. . . Sole proprietorship
  56. 56. Ownership that has combined management skills
  57. 57. WHAT IS. . .Partnership
  58. 58. Ownership that has little incentives for employees
  59. 59. WHAT IS. . . Sole Proprietorship
  60. 60. Ownership where it is difficult to withdraw your investment
  61. 61. WHAT IS. . .Partnership
  62. 62. Various government reports must be submitted periodically for this type of ownership.
  63. 63. WHAT IS. . .Corporation
  64. 64. This business ownership is completely controlled by owner.
  65. 65. WHAT IS. . . Sole Proprietorship
  66. 66. This disadvantage has owners risking their personal assets along with their invested capital. It is called…
  67. 67. WHAT IS. . . Unlimited Liability
  68. 68. WHAT IS. . .The most important advantage of partnerships when compared to proprietorships is __?__
  69. 69. WHAT IS. . .Added Capital
  70. 70. A sole proprietor files income tax with a __?__ form.
  71. 71. WHAT IS. . .1040 FORM
  72. 72. The place where permission is granted for a sole proprietorship.
  73. 73. WHAT IS. . . Ocean County Clerk’s Office
  74. 74. The city you sendyour corporationapplication is…..
  75. 75. WHAT IS. . .TRENTON, NJ
  76. 76. The ownership thatallows flexibility to havea retained earningsaccount one year andnot have one the nextyear
  77. 77. WHAT IS. . .S Corporation
  78. 78. This ownership hasLimited Liability but notdouble taxation
  79. 79. WHAT IS. . .S Corporationor LimitedLiability Corp.(LLC)
  80. 80. The ownership with aretained earning account
  81. 81. WHAT IS. . .Corporation
  82. 82. WHAT IS. . .TESTTOMORROW

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