A sole proprietorship can be owned by more than one person

A corporation is a legal entity and has a life separate from its owners.

All business managers have to plan, control, lead, staff, and organize to be successful.

Determining what work has to be done and who is to do it is called organizing.

Franchises can be operated only as sole proprietorships or partnerships.

A business owned by its members that is managed in the owners’ interests is called a cooperative.

People who become part owners of a corporation are called

Which of the following is NOT one of the five activities of business managers?

The three types of business include a sole proprietorship, partnership, and corporation.

The part of the profits that are paid to shareholders is called

The written permission that allows a corporation to organize is called a

Comparing what actually happened to what is planned is part of

A business owned by a number of people and operated under written permission

Directing people so that their work is performed correctly and on time is called

Municipal means

The form of business that represents two-thirds of U.S. businesses is the

A partnership is owned by two or more people who own shares of stock in the company.

Gathering and analyzing information, and then making decisions about all phases of the business, is called organizing

The person or group who receives a franchise is called the franchisee.

A business owned by its members that is managed in the owners’ interests is called a cooperative.

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