| A | B |
|---|
| A person who is willing to take a risk and start a business... | entrepreneur |
| A supply of whatever items are used in business... | inventory |
| A business owned by one person... | sole proprietorship |
| The owner of a business... | proprietor |
| A proprietor has complete legal responsibility for all debts and damages brought upon oneself in doing business is known as... | unlimited liability |
| Items of value such as houses, cars, jewelry, etc. are known as... | assets |
| New small businesses often financed by the Small Business Administration... | start-ups |
| These help businesses by providing a low-rent building, management advice, & computers through state and federal funds... | small business incubators |
| A business owned and operated by two or more individuals... | partnership |
| A special type of partnership where the partners are not equal... | limited partnership |
| A temporary partnership set up for a specific purpose and for a short period of time.... | joint venture |
| An organization owned by many people but treated by the law as though it were a person... | corporation |
| A corporation, not stockholders, is responsible for its debts through what is known as... | limited liability |
| An application which is filed in the state in which you will run your corporation... | articles of incorporation |
| A license to operate from whatever state you file your articles of incorporation application... | corporate charter |
| A contract in which a franchisor sells to another business the right to use its name and sell its products... | franchise |
| The four elements of business are... | expenses, advertising, receipts and record keeping, and risk |
