Economics CH7

2. responsibility for debt
4. a major disadvantage to partnerships
6. application for a license to form a corporation
9. a license permitting the formation of a new corporation
10. anything of value thAt a borrower can give up if they are unable to pay a loan
11. a type of business that is owned collectively by its members
12. decision making body of a corporation
14. the type of partnership in which partners have equal decision making opportunities
19. an enterprise that uses the original company's name to sell goods or services
20. the amount of time a business operates

1. the type of a partnership in which partners rarely take an active role in business decisions
3. a business owned and operated by one person
5. a business owned and operated by two or more people
7. sold by corporations to raise funds
8. certificate issued by a corporation in exchange for money borrowed from an investor
13. assigning duties to partners based on their skills
15. portions of ownership of a firm
16. actual amount of money borrowed from a bondholder
17. occurs when one company joins with another
18. specifies areas where various types of business activities can be pursued