Key Takeaways- Mccormick

2. When starting a business, you should consider n_____and s______,capital needed,tax laws.
3. S_____h____ are the owners of the corporation.
4. Entrepreneurs and Inatrepreneurs are H______W______,creative, and community leaders.
7. liability One disadvantage of partnership include, unlimited f_____ l______.
8. there is no limit to the number of p_____ in a partnership.
9. One advantage of proprietorships is the owner of the business is the b_____.
10. Sole proprietorship is the most common for of business O______.
12. this is a small family owned or independent business. they struggle to compete with big competitors.
14. If something happens to your partner, the partnership will dissolve. This is called u_________________.
15. there are how many keys of people in a corporation.
17. Sole proprietorships often close because the business can not get enough p_____ going in time.
18. Business plans include M_____and f______plans.

1. This shows the current state of the bussiness' assets, liabilities and capital on a given date.
5. 3 different types of partnerships are: silent partner, secret partner and D_______ partner.
6. Must create a B___________.
7. One disadvantage of proprietorship is a owner may lack f_____.
9. The entire chapter is about starting a b_______ alone or with others.
11. Some states allow l_____ l_____partnerships.
13. each partner should make a equal I______.
16. a business owned by a group of people and authorized by the state is called a c______.