A ____________________ is a business owned by ONE person.

Means that the owner is responsible for the company’s debts.

Is a business owned by two or more people who share its risks and its rewards.

Is a company that is registered by the state and operates apart from its owners.

To form into a “group” for a SPECIFIC PURPOSE

Is an organization that is owned and operated by its members.

Hold a firm’s owners responsible for no more than the capital that they have invested in it.

is a type of organization that focuses on providing a service, but does NOT make a profit.

Changes raw materials into more finished products. (Sugar cane into sugar; crude oil into gasoline, iron into steel)

Is a business that gathers raw goods. Raw goods are materials gathered in their original state from natural resources.

Is a contractual agreement to use the name and sell the products or services of a company in a designated geographic area.

Is a business that makes finished products out of processed goods. (cars, CDs, computers)

Distributes goods. A clothing wholesales may buy thousands of jackets from several manufacturers and then distributes them.

Purchases goods from a wholesaler and sells them to consumer.

Is the process of creating, expanding, manufacturing or improving goods and services.

Business that moves goods from one business to another

Process of planning, pricing, promoting, selling, and distributing ideas, goods, and services.

The business or art of money management. Requires analyzing financial statements and making future decision.

Process of achieving company goals by planning, organizing, leading, controlling, and evaluating the effective use of resources.

Maintaining checking records, handling bills, and preparing financial reports for a business.

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