Chapter 6 Review

A major advantage of forming a corporation is ______ liability. 

A __________ is a business that gathers raw goods.

Income from a sole proprietorship is ________.

There are how many main functions involved in the operations of all types of businesses?

In order to limit personal liability, it would be best to organize your business as a ______.

A _______ is a business that moves goods from one business to another. 

How many types of businesses are there?

A business owned by ten people who share the risks & rewards of the business is a ____________.

During the life of a business, the way the business is organized _____________.

A __________ distributes goods.

Sole proprietorships account for about ____ percent of all the businesses in the United States 

A __________ changes raw materials into more finished products.

An organization that is owned and operated by its members is a ________.

A __________ purchases goods from a wholesaler and sells them to consumers.

Which of the following is not a function of business?

The easiest way to organize a business is as a _______.

A __________ is a business that makes finished products out of processed goods.

This is the business or art of money management.

One of the disadvantages of having a partnership is _________________.

A contractual agreement to use the name and sell the products or services of a company is a ___