Types Of Organizations Flashcards
1
Q
What is a business?
A
They are organizations that seek to make a profit
2
Q
What is a charter?
A
A written grant of rights from a government
3
Q
What is a sole proprietorship?
A
A business owned by one individual
4
Q
What is a partnership?
A
A business that is not incorporated and has two or more owners
5
Q
What is a corporation?
A
A business set up under the laws of a particular state
6
Q
Name 3 corporations in the Bahamas.
A
Bahamas Property Fund Limited, Cable Bahamas, and Consolidated Water Company Ltd.
7
Q
Name 2 sole traders in the Bahamas.
A
Frank’s Ice Cream and Express Foodmart
