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Chpt. 5 GB
Business Organization
| Question | Answer |
|---|---|
| What is a contingent worker? | One who has no explicit or implicit contract for long-term employment |
| What is a partnership? | A business owned and controlled by two or more people who have entered into a written agreement. |
| What is a mission statement? | A short, specific written statement of the reason a business exists and what it wants to accomplish. |
| What are procedures? | Descriptions of the way work is to be done. |
| What is a goal? | A specific statement of results the business expects to achieve. |
| What is articles of incorporation? | A written legal document that idetifies ownership and operationg procedures and conditions for the business. |
| What are intermediaries? | Businesses involved in selling the goods and services of producers to consumers and other businesses. |
| What is a corporation? | A seperate legal entity, formed by documents filed with the state, which is owned by one or more shareholders and managed by a board of directors. |
| What is a franchise? | A written contract granting permission to operate a business to sell products and services in a prescribed way. |
| What is a proprietorship? | A business owned and controlled by one person. |
Created by:
main92
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