Intro to Business CHP 6

A business that grows or gathers raw goods

Each owner has one vote for each share of stock

The owner is the boss and makes all the decisions

Also known as distributors

Consumers usually deal directly with

A type of business that focuses on providing a service, not on making a profit

Farmers group together to sell products

Business that makes finished products out of processed goods.

A business owned by ten people who share the risks and rewards of the business is a

The business or art of money management

Business that goes public and sells stock.

George Bush, John McCain, and Bill Clinton are not liable for their bankrupt firm’s debts

the money the company pays each stockholder for each share of stock from the company’s profit

Income from a corporation is taxed twice.

Retailers get their goods from

A major disadvantage of owning a sole proprietorship is that the owner has limited liability.

Processed goods include all of the following except