Intro to Business Exam 2 Review

Human skills are a defining trait of

Corporations that do business in other states are called a(n) __________ in the state they are incorporated

A sole proprietorship features limited liability

The need at the top of Maslow's Hierarchy of Needs is

Which type of business formation is responsible for the majority of revenue in the U.S.?

Someone who risks their own money and time to hopefully make a profit is called a(n)

This is a voluntary agreement in which there are two or more co-owners of a business for profit

This involves establishing performance standards and taking corrective action as needed

Good leaders almost always

What is an advantage of a general partnership?

In a sole proprietorship, the business debts are considered

An advantage of franchising is

You could gain access to an already successful business model as well as management and training resources by

Small business may have opportunities in _____ markets, which are often unoccupied by larger competitors

What type of business formation makes up the majority of businesses in the U.S.?

Employing _________ often involves using websites to get the help of many investors for a start up business.

A similarity between a corporation and limited liability company is

People might become entrepreneurs because

Which is NOT an advantage of a small business?

When two companies combine this is called a