Chapter 3 Vocab

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Across
  1. 5. Type of business ownership in which the business itself is considered a person under the law and limited liability is granted to the owner
  2. 6. A business owner can be legally forced to use personal money and possessions to pay the debts of the business
  3. 7. Converts materials into goods suitable for use and then sells those goods to the others
  4. 10. Arrangement in which an established company sells right for t\others to use the company's name and operation plan to sell products or services
Down
  1. 1. Legal obligation of a business owner to use a personal money and possessions to pay the debts of the business
  2. 2. Type of business organization in which at least two individuals share the management,profit,and liability
  3. 3. The business owner cannot legally forced to use personal money and possessions to pay business debt
  4. 4. A legally defined type of business ownership in which a single individual owns the business,collects all profit from it,and has unlimited liability for its debt
  5. 8. A unit of ownership in a corporation
  6. 9. The owners of a corporation