Chapter 8 Business Organizations

Section :  Sole Proprietorships 185-188)
Identify:  business organization,
sole proprietorship,
business license,
zoning law,
 liability,
fringe benefit
Look at figure 8:1 (p. 186) What are the top three characteristics of  an entrepreneur?
Look at figure 8:2 (p.
What are the benefits and disadvantages of sole proprietorships?

Read Jerry Yang profile (189) answer question 1.  Are there any changes since this book was published?

Section 2:  Partnerships (190-193)
Identify:  partnership
general partnership
limited partnership
Limited liability partnership (LLP)
articles of partnership
Uniform partnership act (UPA)
Assets  
 Look at 8:3 (191) What are the majority of the size of recipts and type of partnerships?
What is the point of the political cartoon on page 192?
Answer questions 5 and 6 on page 193.

Section 3:  Corporations, Mergers, and Multinationals (195-200)
Identify  corporation
stock
closely held corporation
publicly held corporation
bond
certificate of incorporation
dividend
horizontal merger
vertical merger
conglomerate
multinational corporation (MNC)
What are the advantages and disadvantages of corporations?
Answer questions 5,6,7 on page 200

Section 4: Other Organizations (201-204)
business franchise
royalty
cooperative
consumer cooperative
service cooperative
producer cooperative
nonprofit organization
professional organization
business association
trade association
Answer questions 7+8 on page 204