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6:30 4G Chapter 1 BUSINESS ORGANIZATIONS O - tosh UP Across Down 3. A sole proprietorship has limited the business 1. One advantage of a sole proprietorship is 6:30 .. 4G Chapter 1 Across Down 3. A sole proprietorship has limited ; the business ends when the owner dies. life 1. One advantage of a sole proprietorship is that the owner has full over the way the business is run. control 2. Partner in a 5. A sole is a business owned and managed by a single individual. proprietorship 7. A major disadvantage of corporation is the taxation of corporate profits. doible 8. A business organization owned by two or more person who agree on a specific division of responsibilities and profit. partnership 9. A legally bound obligation to pay debts is biability 11. The biggest disadvantages of sole proprietorship is _personal liability. unlimited partnership share equally in both responsibility and liability. general 4. A business that is legal entity, owned by individual stockholders each of whom faces limited liability for the firm's debt. corporation 6. A held corporation has many shareholders who can buy or sell stock on open market. liabulit 10. A partners can lose only the the amount of their initial investment. limited 12. A corporation is defined as an 6:30 4G Chapter 1 proprietorship 7. A major disadvantage of corporation is the taxation of corporate profits. doible 8. A business organization owned by two or more person who agree on a specific division of responsibilities and profit. partnership 9. A legally bound obligation to pay debts is biability 11. The biggest disadvantages of sole proprietorship is personal liability. unlimited 6. A partnership share equally in both responsibility and liability. general 4. A business that is legal entity, owned by individual stockholders each of whom faces limited liability for the firm's debt. corporation held corporation has many shareholders who can buy or sell stock on open market liabulit 10.A partners can lose only the the amount of their initial investment. limited 12. A corporation is defined as an because has a legal identity separate from those of its owners. entity Check Answers

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