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PBF399 Unit 2 Terms
PBF Unit 2 Terms
Question | Answer |
---|---|
Two or more persons to carry on as co-owners of a business for a profit | Partnership |
Each stock equals one _______ at the shareholder meeting | Vote |
Type of liability in which you can lose all your assets | Unlimited |
Partnership formed by the way two or more people conduct their business (4 words) | By proof of existence |
Entity with the legal authority to act as a single person | Corporation |
Partner has an active role, but unknown existence | Secret |
Grants permission to sells its products and services as a business | Franchise |
Business owned by one person (two words) | Sole Proprietorship |
Partnership formed after they agree to conditions in a contract (two words) | By Agreement |
Type of corporation that benefits the public and receives a tax break | Nonprofit |
Abbreviation for a partnership with limited liability | LLP |
Partner has no role, but is known to public | Silent |
Type of taxation on a corporation | Double |
Type of liability in which you only lose your initial investment in the company | Limited |
Partner plays no role and is not known to public | Dormant |
__________ of incorporation | Articles |
Partner has an active role, unlimited liability. | General |
Formed by a group to gain bargaining power | Cooperative |
__________venture is a special project for a limited time | Joint |
Company Executives. | Top Management |
First level of management. | Supervisors |
Tactical and strategic style. | Mixed |
Analyzing of information, set goals, and make decisions. | Planning |
Arrangement of resources in order to meet goals. | Organizing |
Determines to what extent the business is accomplished. | Controlling |
Directed and controlling style of management. | Tactical |
Directing and leading people. | Implementing |
Employees help with decision making. | Strategic |
Specialists in a specific area of the business. | Mid-management |
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