Intro: Ch. 5

Most businesses start as a: partnership, proprietorship, corporation, LLC

Are owned by members, serves their needs, & is managed in their interest.

The most popular form of ownership for large businesses is a: partnership, proprietorship, corporation, franchise

The legal document that defines ownership & operating procedures & conditions for a business:

Which is NOT a major form of business ownership? proprietorship, partnership, franchise, corporation

Make-A-Wish Foundation is an example of this type of business ownership:

Opening a Jack in the Box in Omaha, NE would be an example of:

How many basic business activities are there?

This type of business ownership is the hardest type of ownership to form.

This type of business ownership takes on the entire risk of the business.