57. one individual
58. (Opinion-based; student response required)
59. The owner is personally responsible for all debts and obligations of the business.
60. The business ends when the owner dies or decides to stop operating it.
61. A business owned by two or more people who share profits, losses, and management responsibilities; all partners have unlimited liability.
62. A business structure where at least one partner has limited liability (not personally responsible for business debts beyond their investment) and may not participate in management.
63. The legal process of liquidating a business’s assets to pay off creditors when it cannot pay its debts.
64. A payment made by a corporation to its shareholders, usually from profits.
65. Common; Preferred
66. A debt instrument where the issuer borrows money from investors and promises to repay with interest over time.
67. Corporations are taxed on their profits, and shareholders are also taxed on dividends received, resulting in taxation at both levels.
68. A - 13
69. B - 16
70. D - 23
71. C - 14
72. C - 15
73. A - 17
74. D - 18
75. B - 19
76. B - 20
77. B - 21
78. A - 22
79. C - 24
80. A - 25
81. B - 26
82. C - 27
83. C - 28
84. A - 29
85. Large corporations that operate in multiple countries.
86. An organization that operates for purposes other than generating profit, often for charitable, educational, or social goals.
87. Businesses owned and operated by members who use its services, often sharing profits and decision-making.
88. A. Consumer cooperatives
89. B. Producer cooperatives
90. C. Worker cooperatives
91. The process by which employees, typically through a union, negotiate collectively with employers over wages, benefits, and working conditions.
Parent Tip: Review the logic above to help your child master the concept of business organization worksheet.
