Chapter 3 Vocab

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Across
  1. 3. The owners of a corporation
  2. 4. Converts materials into goods suitable for use and then sells those goods to others
  3. 6. The legal obligation of a business owner to use personal money and possessions to pay the debts of the business
  4. 7. A unit of ownership in a corporation
  5. 9. 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 debts
  6. 10. A business owner cannot be legally forced to use personal money and possessions to pay business debt
Down
  1. 1. A legally defined type of business organization in which at least two individuals share the management, profit, and liability
  2. 2. Provide services to consumers for a fee
  3. 5. A business owner can be legally forced to use personal money and possessions to pay the debts of the business
  4. 8. An arrangement in which an established company sells the right for others to use the company's name and operating plan to sell products or services