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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 management | Supervisors |
| tactical and strategic style | mixed |
| analizing of information, set goals, and make decisions | Planning |
| arranegment of resources in order to meet goals | Organizing |
| determines to what extent the business is accomplish | controling |
| Directed and controlling style of managment | Tactical |
| directing and leading people | implementing |
| Resources Managers are responsible for managing compensation packages for employees. | benefit |
| to dissmiss or lay off from work | downsizing |
| A group of people officially authorized to perform certain duties or functions | Commission |
| something given or received as an equivalent for services | Compensation |
| A diagnosis or diagnostic study of a physical or mental condition. | Evaluation |
| The study of group behavior for the purpose of improving interpersonal relationships, as among employees. | Human relations |
| an additional payment made to employees as a means of increasing production | Incentive system |
| any task, operation, job or process that could be performed by employees within an organization | Outsourcing |
| Payment by results. Wage determination system in which the employee is paid for each unit of production at a fixed rate | Piece Rate |
| Encouragement of the progress, growth, or acceptance of something | Promotions |
| direct payment per week | salary |
| wages or salaries payable at regular weekly | Salary and wages |
| ends employment relationship | Terminations |
| Software that enables computers to reason learns and makes decisions. | Artificial intelligence |
| Used to create product styles and designs | Computer-aided design |
| Computer programs that help people solve tech problems including medical services, financial planning, and legal concerns. | Expert systems |
| Conducting business transactions using the internet or other technology | E-commerce |
| Ordered system for processing and reporting information in a organization | Management information system (MIS) |
| It involves mechanical devices programmed to do a routine task those seen on assembly line in factories | Robotics |
| Workers use computers off-site to do a job, saving, travel time, and cost | Telecommuting |
| the duty of a business to contribute to the well-being of a community | social responsibility |
| a set of rules for guiding the action of employees or members of an organization | code of ethics |
| protection of the creative work of authors, composers, and artist. | copyright |
| an agreement to exchange goods or services for something of value, usually money | contract |
| a natural resource that cannot be replaced | nonrenewable resource |
| a synthetic reasource that can be replaced | renewewable resource |
| when a business has control of the market for a product or service | monopoly |
| laws intended to prevent unfair business practices such as false advertising, deceptive pricing, adn misleading labeling | antitrust laws |
| the exclusive rights of an inventor to make, sell, and use a prodict of process | patent |
| a distinctive name symbol, word, or picture | trademark |
| an organization that supplies a service or product vital to all people including companies taht provides local telephone service, water, and electricity | public unity |
Created by:
NBPataky
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