CH7 Types of Businesses

7. Tom and Jerry, friends with a shared passion for technology, formed a ___ to launch a software development company.
8. The innovative marketing campaign helped the company ___ a substantial increase in sales and brand recognition within just a few months.
12. Jane, as the sole proprietor of a graphic design firm, faced the challenge of ___ when a client sued the business for copyright infringement.
13. To comply with government regulations, the new business had to ___ its name and operations formally before starting its commercial activities.
15. In the law firm partnership, Emily, a ___, not only contributed actively to managing the business but also bore full personal liability for the firm's obligations.
16. The family-owned business restructured as a ___, enjoying the tax advantages of a partnership while maintaining the benefits of a corporation.
17. Maria, a shareholder in a manufacturing corporation, found comfort in the ___ concept, knowing her personal responsibility was restricted to the amount of her investment.

1. The restaurant owners breathed a sigh of relief as their ___ coverage covered the costs when a patron accidentally spilled hot coffee on themselves.
2. The tech company opted for ___ status, subjecting itself to corporate taxes on earnings while its shareholders paid taxes separately.
3. The multinational ___ expanded its market presence, issuing shares of stock to investors and ensuring the business continued independently of individual owners.
4. As proud ___ in the successful tech startup, Mark and Sarah eagerly attended the annual shareholder meeting to discuss the company's progress.
5. John's small landscaping business, operated solely by him, flourished due to his dedicated efforts in providing personalized services.
6. Alex invested in a real estate partnership as a ___, securing financial benefits without being directly involved in the day-to-day decisions.
9. With the ___ granted by the board, the CEO made critical decisions to steer the company through a challenging economic downturn.
10. The software developer excelled not only in coding but also in explaining complex ___ concepts to non-technical team members.
11. The animal rescue organization operated as a ___ corporation, channeling its earnings back into caring for animals rather than seeking individual profits.
14. Jack and Emma formed an ___ for their consulting firm, appreciating the limited liability for owners and the flexibility it provided in managing their business.