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Bsuiness/Tech 2013
Mrs.Westberry/ Johnson's vocab words for her Business and Technology class.
Term | Definition |
---|---|
Sole Proprietorship | The sole proprietor is an unincorporated business with one owner who pays personal income tax on profits from the business. |
Unlimited Liability | A type of business where owners share joint and several responsibilities for the entire amount of debt and other liabilities amassed by the business. |
Partnership | A partnership is a single business where two or more people share ownership. |
General Partner | General partner is a person who joins with at least one other person to form a business. |
Limited Partner | A partner in a partnership whose liability is limited to the extent of the partner's share of ownership. |
Master Limited Partnership | A type of limited partnership that is publicly traded. |
Corporation | A corporation is a separate legal entity that has been incorporated through a legislative or registration process established through legislation. |
Stock | The stock (also capital stock) of an incorporated business constitutes the equity stake of its owners. |
Stockholder | Somebody who owns one or more shares of a company’s stock |
Closed Corporation | A type of business corporation that is owned and operated by a small group of people. |
Open Corporation | An open corporation is a corporation whose ownership shares are available for exchange on a public market. |
Domestic Corporation | A company that conducts its affairs in its home country. |
Foreign Corporation | An existing corporation that is registered to do business in a state or other jurisdiction other than where it was originally incorporated. |
Alien Corporation | A corporation that was created in another country. |
Common Stock | A security that represents ownership in a corporation. |
Preferred Stock | A class of ownership in a corporation that has a higher claim on the assets and earnings than common stock. |
Dividend | A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits. |
Proxy | A person who is given the power or authority to do something (such as to vote) for someone else. |
Board of Directors | A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. |
Corporate Officers | Someone who operates a corporation within the corporate formalities and manages a corporation. |
Limited Liability | Limited liability is where a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a company or partnership. |
S-corporation | S corporations are corporations that elect to pass corporate income, losses, deductions and credit through to their shareholders for federal tax purposes. |
Limited-Liability Company | A limited liability company (LLC) is a flexible form of enterprise that blends elements of partnership and corporate structures. |
Not-for-Profit | A not for profit organization is a type of organization that does not earn profits for its owners. |
Cooperative | A cooperative is a business or organization owned by and operated for the benefit of those using its services. |
Joint Venture | A joint venture (JV) is a business agreement in which the parties agree to develop, for a finite time, a new entity and new assets by contributing equity. |
Syndicate | A syndicate is a self-organizing group of individuals, companies, corporations or entities formed to transact some specific business, or to promote a common interest. |
Merger | The combining of two or more companies, generally by offering the stockholders of one company securities in the acquiring company in exchange for the surrender of their stock. |
Hostile Takeover | In a hostile takeover, one company buys another against its will. |
Tender Offer | Tender offer is a corporate finance term denoting a type of takeover bid. |
Proxy Fight | When a group of shareholders are persuaded to join forces and gather enough shareholder proxies to win a corporate vote. |