Intro to business ch 6 – Flashcards
Unlock all answers in this set
Unlock answersquestion
Mistakes
answer
A possible drawback when buying an existing business is that you may inherit the _____ made by the precious owner
question
Angel investors
answer
Wealthy individuals who invest in new and growing firms
question
Divestiture
answer
Partial or full exposure of a business through sale, exchange, closure or bankruptcy; "spin off" is a type
question
Business plan
answer
A formal documentation that describes a business concept and outlines the core business objectives while detailing the strategies and timelines for achieving those objectives
question
Partial shield protection
answer
A partner's Unlimited liability for most types of debts a firm incurs, and someone is protected from any debt that results from the other partner's negligence or malpractice
question
Uncertainty
answer
Entrepreneurs tend to be tolerant of ______
question
Sole proprietorship
answer
Most common type of business organization in the U.S; owns everything and starts the business himself
question
Locus of control
answer
People who have an internal _____ ___ _____ have a strong sense of person responsibility for what happens in their lives
question
Stockholders
answer
Owners of a corporation p; have the right to vote on issues affection the operation of the business
question
Franchise
answer
The party in a Relationship that pays for the right to use resources supplied by another business entity
