Chapter+8+Work

8.1 read and take notes on pgs. 185 -188...answer questions #1-7
 * Business organization is an establishment formed to carry on commercial enterprise
 * sole proprietorship is a business owned and managed by a single individual
 * business license is an authorization from the local government
 * zoning laws are zones for residential use and for business
 * liability is the legally bound obligation to pay debts
 * fringe benefits are payments to employees other than wages or salaries such as a paid vacation
 * 1) Business organization is an establishment formed to carry on commercial enterprise
 * 2) Sole proprietorship is a business owned and managed by a single individual
 * 3) They are things that entrepreneurs must follow in order to start their own business.
 * 4) To pay back the debts they took out to start their own business
 * 5) Because their business is relatively small and they cant offer many benefits
 * 6) Physical therapist business could work very well succeed as a sole proprietorship
 * 7) All of them, not really I'm lazy, smart but lazy.

8.2 read and take notes answer questions #1-8 on pg. 193
 * 1) Partnership is a business organization owned by two or more persons who agree on a specific division of responsibilities and profits.
 * 2) general partnership is for usually two people, limited partnership is one person is higher than the other,

8.3 pg 195-200 and take notes... Design a 15 question quiz on sections 8.1-8.3
 * 1) Define Business organization.
 * 2) List some advantages of sole proprietorship.
 * 3) Why must entrepreneurs obtain a business license
 * 4) List some disadvantages to sole proprietorship
 * 5) Explain the difference between general partnership and limited partnership.
 * 6) What is LLP?
 * 7) Define some of the topics that the articles of partnership depict.
 * 8) What happens within a Uniform Partnership Act
 * 9) List some possible assets that firms have.
 * 10) What is a Corporation
 * 11) List some examples of stock and corporations
 * 12) Difference between closely and publicly help corporations?
 * 13) List advantages of incorporation
 * 14) List disadvantages of incorporation
 * 15) What are multinational corporations?

Take notes on pgs. 201-204...Answer Questions #1-6 on pg. 204
 * 1) Business franchise works as a semi-independent business that pays fees to a parent company.
 * 2) Royalties are fees that franchises must pay to use the company name.
 * 3) A cooperative is a business organization owned and operated by a group of individuals for their shared benefit.
 * 4) CC are run by consumers, SC provide a service rather than goods, PC are agricultural marketing cooperatives that help members sell their products.
 * 5) PO help improve the image of occupations, Business associations promote the collective business interests of a city, state, or other geographical area, of a group of similar businesses.
 * 6) A nonprofit organization are usually in the business of benefiting society.