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11BM - U1 AOS2 KK2 (part 1)

Horizontales
A sole trader business isn’t a separate legal entity. As a result, the sole trader business’ actions are treated as the o___'s actions.
A business has become i___ if it has changed into a company.
S___ are intangible activities that are able to be sold in a market.
A ‘m___ o_ e___’ is a method of payment for goods and services.
N___ are things human beings require in order to survive.
A partnership is not a separate legal entity. As a result, each partner has unlimited liability for a___ the partnership’s actions, not just the actions carried out by the individual partner.
A p___ is a type of unincorporated business in which at least two people (the partners) own and operate (ie, run) the business together.
A s___ t___ is a type of unincorporated business in which one person owns and operates (ie, runs) the business.
Verticales
The owner of a business has u___ l___ if their personal assets – such as their real estate and personal property – can be sold to pay off the business’ debts when selling the business’ assets is insufficient to do so.
A m___ is any situation in which potential buyers are in contact with potential sellers and there is a means of exchange.
G___ are items that are tangible (usually) and able to be sold in a market.
A b___ is any activity that involves one or more human beings creating and selling products (ie, goods and/or services) in order to satisfy the needs and wants of society, while also making a profit.
W___ are things human beings desire, but do not require to survive.
The maximum number of partners in a partnership tends to be t___, although it depends on the type of partnership.