Chapter 3 - Starting a Business

4. A business with two or more owners who share profits, losses, risks, and responsibilities.
5. A business owned by shareholders who have limited liability and is governed by a board of directors.
8. The annual total dollar value of all goods and services produced within a country.
9. A business that produces goods for sale and distribution.
10. The portion of a corporation's profit that shareholders receive after taxes.
12. The practice of using money from savings or investors to run a business.
14. The process in which a business owner determines what resources they need and how much financing is needed to acquire them.

1. A business that is owned solely by one person who receives all profits and losses and is personally liable.
2. An institution that lends money to businesses upon checking credit score and other factors.
3. A person or business who utilizes the reputation and business expertise of its parent business, whom it is licensed under.
4. A legal document that outlines the partnership and each partner's responsibilities
6. A business that purchases goods and re-sells or re-distributes them for profit.
7. A company that licenses its name and other resources to the business that it franchises.
11. The practice of using borrowed or loaned money to run a business.
13. A business owned by the people who utilize its products and/or services