Principles of Business, Marketing & Finance
Chapter 6 Study Guide
Instructions: Use your book and find the word or phrase that matches the definition given:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
A business owned by many people but treated by law as one person, it exists
separate from its owners
A business owned by only one person
A business owned by two or more persons who share risks and rewards
A business that distributes goods, also known as a distributor
A business that gathers raw products in their natural state
A business that moves goods from one business to another. It buys goods,
stores them, and then resells them.
A business that purchases goods from a wholesaler and resells them to the
consumer
A contractual agreement to sell a company’s products or services in a
designated geographic area
A type of business that focuses on providing a service rather than making a
profit
An organization owned and operated by its members for the purpose of saving
money on the purchase of certain goods and services
Businesses that make finished products out of processed goods
Change raw materials into more finished products
Full responsibility for your company’s debts
Lose only what is invested
Shares of ownership in a corporation
The products of a skill or activity
Fill-in-the-blanks (delete the blanks and type your answer):
1. To form a corporation, you need what documents:
2. To form a partnership, you need what documents:
Fill-in-the-table:
2 Advantages
Sole Proprietorship
Partnership
2 Disadvantages
Corporation