all of the following are major advantages of a sole proprietorship except
unlimited personal liability
a major disadvantage of the sole proprietorship is that
banks are often unwilling to lend money to the business
a major advantage of a sole proprietorship is that
the owner is completely responsible for the business decisions
a business in which all partners are limited from person liability in certain situations
limited liability partnership
a business in which only one person had unlimited personal liability for the business's actions
a legal agreements that sets out each partner's right and responsibilities in a particular partnership
articles of partnerships
what is a major advantage of a business that is a partnership rather than a sole proprietorship?
the responsibility for the business is shared
what is the difference between a limited partnership and limited liability partnership?
in limited liability partnership, all members are limited from liability in some situations
How is a general partnership organized?
Every partner shares equally in both responsibility and liability
joining of two or more firms competing in the same market with the same good or service
What is a certificate of incorporation
a license to form a corporation issued by the state government
what percentage of the net income earned in the United States is generated by corporations
what is the term for the going of two or more firms invalid in different staged of producing the same good or service?
What does the limited lability of the owners of stock in corporation mean?
the stockholders of a corporation can lose only what they have invested in corporation
a semi-independent business that pays fees to a parent company for exclusive rights to do business in a certain area
organization such as museums, the Red Cross, and churches that promote a benefit to society
an organization that attempts to improve the image and working conditions of people in a particular occupation is a
the share of earnings that a business owner pays for the right to be part of a certain business are
the function of a retail or purchasing cooperative business or co-op is to
obtain lower prices for members
all of the following are disadvantages of a franchise business except
the parent company's guidance on running the business
the theory that the completion of college indicated to employees that a job applicant is intelligent and hard working
Which of the following jobs was held by most working in the United States at the founding of the country
what is on reason many firms hire temporary workers to do a particular job
flexible work arrangements
how have the earning of U.S. workers changed over the last 20 years
wages of college graduated only have gone up
the wages that produce neither an excess supply of workers nor an excess demand for workers in laborer markets
the practice of negotiating labor contracts that keep unnecessary workers on company's payroll
what is the basic economic principle that decided how high wages will be?
supply and demand control wages
what is one strategy that employers used to continue to do business despite high ages
replace some of the workers with machines
what is generally one of the major differences between union and nonunion workers?
union workers earn more money for similar work
the process by which union and company representatives meet to negotiate and form new labor contacts
a settlement technique in which a third party review the case and imposes a legally binding decision
an organization of workers that tries to improve working conditions, wages, and benefits for its members
what is generally the difference between blue-collar workers and white-collar workers
blue workers have industrial jobs; white have professional or clerical jobs
which legislation enacted in 1847 may have been a reason for decline in union membership
the Taft-Hartley Act