Financial Literacy - Business Organization

All of the following are franchises EXCEPT

The easiest type of business to start is a sole proprietorship

Corporations have most of the rights of an individual, according to the law.

Owner Responsible for all liability

Partners split liability

If a corporation goes out of business, common stockholders get their investment back first.

A document certifying ownership of part of a corporation is a

Partnerships are the most numerous form of business organization in the United States.

A business run by a single person is a

With limited liability CEO of J and J was sentenced to prison for the baby powder/cancer lawst.

In a retail business, the stock held in reserve is called

The government document that grants permission to establish a corporation is called a

Owners are NOT responsible, company owns all liability

Unlimited liability is one of the main advantages of a sole proprietorship.