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Match the following business terms with their definitions:
Nonprofit corporation = Organization that does not pay taxes and does not exist to make a profit. Sole proprietorship = Business owned and managed by one person. Limited liability company = Special type of corporation allowed by states that is taxed as if it were a sole proprietorship or partnership. Cooperative = Business owned and operated by its user-members for the purpose of supplying themselves with goods and services.
Match the following business roles with their descriptions:
Officer = Top executive who is hired to manage a business. Proprietor = Person who owns and manages a business and often performs the day-to-day tasks, with the help of hired employees. Intrapreneur = An employee who is given funds and freedom to create a special unit or department within a company in order to develop a new product, process, or service. Creditor = Person or business to whom money is owed.
Match the following business structures with their characteristics:
Partnership = Business owned by two or more people. Corporation = Business owned by a group of people and authorized by the state in which it is located to act as though it were a single person, separate from its owners. Sole proprietorship = Business owned and managed by one person. Limited liability company = Special type of corporation allowed by states that is taxed as if it were a sole proprietorship or partnership.
Match the following business agreements with their definitions:
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Match the following terms with their corresponding business structures:
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