enterpreneurship Flashcards
0
Q
What are the rewards of sole propeitorship?
A
Profit + being own boss
1
Q
What is sole proprietorship?
A
Business owned by one person
2
Q
What are the risks of sole propreitorship?
A
Must know everything + unlimited liability
3
Q
What is a partnership?
A
Business owned by 2+ people
4
Q
Risks of partnership
A
Less income, mist agree on everything, and mist trust partner
5
Q
Patnership rewards
A
Less responsibility, less knowledge needed
6
Q
Corporation
A
Business owned by many pple but treated as one by law
7
Q
Corporation adv.
A
Limited liability
8
Q
Corporation disav.
A
More taxes
9
Q
Franchise
A
Agreement to sell a companies service in your area
