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Chapter.5.

QuestionAnswer
What are intermediaries? Buinesses involved in selling the goods and services of producers to consumers and other businesses.
What is a service business? It carries out activities that are consumed by its customers.
What is a proprietorship? A business owned and ran by just one person.
What is a partnership? A business owned by and controlled by two or more people who have entered into a written agreement.
What is a corporation? A separate legal entity formed by documents filed with your state.
What is a partnership agreement? A written agreement among all owners.
What is a franchise? A written contract granting permission to operate a business to sell products and services in a set way.
What is a mission statement? A short, specific written statement of the reason a business exsists and what it wants to achieve.
What is a goal? A precise statement of results the business expects to achieve.
What is an organization chart? A diagram that shows the structure of an organization, classifications of work and jobs, and the relationships among those classifications.
Created by: morgie.marie
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