| A | B |
|---|
| sole proprietorship | business owned by one person |
| Unlimited liability | owner is responsible for the company's debts |
| partnership | busienss owned by two or more people who share its risks and rewards |
| corporation | company that is registered by a state and operates apart from its owners. |
| Limited liability | holds a firm's owners respnsible for no more than the capital that they have invested it it. |
| cooperative | an organization that is woned and operated by its members |
| nonprofit organization | type of organization that focuses on providing a service, but not to make a profit. |
| franchise | a contractual agreement to use the name and sell the products or services of a company in a designated geographic area. |
| producer | a business that gathers raw goods. |
| processor | changes raw materials into more finished products |
| manufacturer | a business that makes finished products out of processed goods. |
| intermediary | a business that moves goods from one busienss to another |
| wholesaler | distributes goods |
| retailer | purchases goods from a wholesaler and sells that to consumers, the final buyers of the goods. |
| production | the process of creating, expanding, manufacturing, or improving goods and services. |
| procurement | the buying and reselling of goods that have already been produced. |
| marketing | the process of planning, pricing, promoting, selling, and distributing ideas, goods, and services. |
| management | the process of achieving compnay goals by planning, organizing, leading, controlling, and evaluating the effective use of resources. |
| Finance | the business or art of money management |
| accounting | involves maintaining and checking records, handling bills, and preparing financial reports for a business |
