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Miss Smith 7 th grade Civics *pgs. 460-464.  A _____ ________ owned by one person ProsCons You’re your own ____ You decide the business _____ You take.

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Presentation on theme: "Miss Smith 7 th grade Civics *pgs. 460-464.  A _____ ________ owned by one person ProsCons You’re your own ____ You decide the business _____ You take."— Presentation transcript:

1 Miss Smith 7 th grade Civics *pgs. 460-464

2  A _____ ________ owned by one person ProsCons You’re your own ____ You decide the business _____ You take all the _______ Must have or ______ $$ to get a building/office space/equipment Must have $$ to pay ________ Responsible for _____ Risk failure and ____

3  A ________ in which two or more people share the ______________, costs, _______, and _______

4  A type of _________ that is recognized as a separate _____ entity from the people who ___ it  A _________ organization (unlike _______________ and partnerships)

5 Raising Money  Selling _____ (or ______ of ownership)  The people who ____ corporate stocks are ___________  _________ are stockholders’ share of the profits

6 Rights to Operate  Certain ____ must be followed to ___________ a business  Incorporation allows a company to sell ______

7 Elected Directors  Corporations must have ________ where stockholders can:  Elect a board of _________  Voice their ________ on how the company is ___________  The board of directors represents the _____________ when making _________ about the ________

8 Choosing __________  This is done by the board of _______ Debt Responsibility  If it goes out of _________, to pay off _____, property will be ____

9  Organizations that provide _____ and ________ without seeking to earn a ______ for stockholders  Ex: _________, research associations, educational _________


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