BUS 101 In Class Assignment Chapter 5 Directions Write characteristiche erste lie the correct an underlined characteristie can be used more than once Sole Proprietorship Corporation General Partnership 1. Can sell stock 2. Owned and usually managed by one person 3. No special or additional taxes 4. Owners have limited liability for business debts 5. Easy to change ownership 6. Difficult to terminate 7. An owner is called a stockholder 8. State-chartered legal entity with liability separate from the owners 9. Unlimited personal liability 10. Shared management responsibility and pooled skills 11. Easiest to start and end 12. Keep all the profits yourself 13. Most common form of ownership 14. Double taxation 15. You are your own boss 16. Required and extensive paperwork Directions: Identify the type of MERGER being described. Write the proper term ot the top of each column. Once identified, give an example of each type of merger in the box provided at the bottom of each column Firms in the same type of industry Provides a means of expanding products, diversifying Firms in different stages of the same business Helps assure quality control & continuous supply of manufacturing ingredients Firms in unrelated industries Diversifies business operations and investments