Chapter 5-A

All businesses buy goods and services

• True

• False

A sole proprietorship has one business owner with multiple employees.

• True

• False

The easiest form of business to start is the

• S-corporation

• Sole Proprietorship

• Partnership

• Nonprofit corporation

A unique business organized by two or more other businesses to operate for a limited time and for a specific project is a

• franchise

• LLP

• joint venture

• LLC

The direction for a business comes from its

• mission statement

• code of ethics

• corporate bylaws

• policy manual

The order of command can be found in the company's

• Goals

• Mission Statement

• Organizational Chart

• Ethics

A _______ requires written contract granting permission to operate under an established business name.

• Corporation

• Partnership

• Franchise

• Partnership

A(n) ___________________ is a written legal document that defines ownership and operating procedures and conditions for a corporation.

• organization

• goals

• partnership

• articles of incorporation

Red Cross and the American Heart Association are examples of

• S-corporations

• LLC

• LLP

• Nonprofit corporations

A logging company is an example of

• an extractor

• a manufacturer

• a retailer

• a government program