Econ Chapter 8 Test

Created by jrogers

Question or Hint Answer or Word

sole proprietorship a business owned an controlled by one person
partnership a business co-owned by two or more people who agree on how reponsibilities, profit, and losses should be divided
coropraton a business owned by shareholders, who own the rights to the compnay's profit but face only limited liability for the company's debts and losses
public compony a corporation that issues stock that can be freely traded
unlimited life a situation in which a corporation continues to exist even afer change in owernship
conglomerate a business composed of companies that produce unrelated good or seriveces