Question 1

Sole Proprietorship

Accepted Answer

a business owned by one person

Question 2

Unlimited Liability

Accepted Answer

A type of investment in which a partner or investor can lose an unlimited amount of money.

Question 3

Partnership

Accepted Answer

the relationship between two or more people or organizations that are involved in the same activity

Question 4

Limited Partner

Accepted Answer

a business partner who has no management responsibility and whose liability for company debts is limited to his or her financial stake

Question 5

Master Limited Partnership

Accepted Answer

a limited partnership managed by one of the partners for the benefit of all the partners

Question 6

Corporation

Accepted Answer

A company recognized by law as a single body with its own powers and liabilities, separate from those of the individual members. Corporations perform many of the functions of private business, governments, educational bodies, and the professions.

Question 7

Stock

Accepted Answer

a supply of goods for sale, kept on the premises by a store or business

Question 8

Closed Corporation

Accepted Answer

A corporation is a separate legal entity that has been incorporated through a legislative or registration process established through legislation.

Question 9

Open Corporation

Accepted Answer

Firm whose shares are publicly traded, and are not monopolized by a small group of investors. Opposite of closed corporation.

Question 10

Domestic Corporation

Accepted Answer

Local corporation, formed under the laws of the jurisdiction where it is domiciled.

Question 11

Foreign Corporation

Accepted Answer

Firm incorporated under the laws of a foreign jurisdiction and owned or controlled by non-nationals. Also called alien corporation, foreign concern, or foreign firm.

Question 12

Alien Corporation

Accepted Answer

Firm incorporated under the laws of a foreign jurisdiction and owned or controlled by non-nationals. Also called alien corporation, foreign concern, or foreign firm.

Question 13

Common Stock

Accepted Answer

Type of security that serves as an evidence of proportionate ownership, imparts proportionate voting rights, and gives its holder unlimited proportionate claim on the assets and income of the firm (after the claims of lenders, and other obligations, are s

Question 14

Preferred Stock

Accepted Answer

Class of stock (shares) that pays fixed and regular interest income, instead of a dividend (whose payment and amount depends on factors beyond stockholder's control). Holders of preferred stock have claim over the firm's earnings (and assets in case of li

Question 15

Dividend

Accepted Answer

A share of the after-tax profit of a company, distributed to its shareholders according to the number and class of shares held by them.

Question 16

Proxy

Accepted Answer

Written authorization from an absent member (or a shareholder, called the 'principal') that confers a limited power of attorney on another person, member, or management of the firm (called 'agent' or 'proxy') to vote on behalf of, and in accordance with t

Question 17

Board of Directors

Accepted Answer

Its members (directors) are elected normally by the subscribers (stockholders) of the firm (generally at an annual general meeting or AGM) to govern the firm and look after the subscribers' interests.

Question 18

Corporate Officers

Accepted Answer

The executives of a corporation charged with certain operational responsibilities.

Question 19

Limited Liability

Accepted Answer

The legal protection available to the shareholders of privately and publicly owned corporations under which the financial liability of each shareholder for the company's debts and obligations is limited to the par value of his or her fully paid-up shares.

Question 20

S-Corporation

Accepted Answer

Type of the US corporate structure in which the firm's income is passed through its stockholders (shareholders) in proportion of their investment, and taxed at personal income tax rates. S corporations ('S' stands for 'small') can have only one type of st

Question 21

Limited-Liability Company

Accepted Answer

Relatively recent type of US business structure that combines the limited personal liability feature of a corporation with the single taxation feature of a partnership or sole-proprietorship firm. Its profits and tax benefits are split any way the stockho

Question 22

Not-for-Profit Corporation

Accepted Answer

An incorporated organization which exists for educational or charitable reasons, and from which its shareholders or trustees do not benefit financially.

Question 23

Cooperative

Accepted Answer

Working or acting together with others, or done by people working or acting together

Question 24

Joint Venture

Accepted Answer

A contractual agreement joining together two or more parties for the purpose of executing a particular business undertaking. All parties agree to share in the profits and losses of the enterprise

Question 25

Syndicate

Accepted Answer

An association of businesses jointly contributing capital to a major project

Question 26

Merger

Accepted Answer

The joining together of two or more companies or organizations

Question 27

Hostile Takeover

Accepted Answer

A takeover which goes against the wishes of the target company's management and board of directors. opposite of friendly takeover

Question 28

Tender Offer

Accepted Answer

A takeover bid in the form of a public invitation to shareholders to sell their stock, generally at a price above the market price.

Question 29

Proxy Fight

Accepted Answer

A strategy that may accompany a hostile takeover. A proxy fight occurs when the acquiring company attempts to convince shareholders to use their proxy votes to install new management that is open to the takeover. The technique allows the acquired to avoid

Question 30

Stockholder

Accepted Answer

somebody who owns one or more shares of a company's stock

Vocabulary

Vocab

Term	Definition	Example
Sole Proprietorship	a business owned by one person	House Keeper
Unlimited Liability	A type of investment in which a partner or investor can lose an unlimited amount of money.	American Express Company
Partnership	the relationship between two or more people or organizations that are involved in the same activity	Hollister and Abercrombie & Fitch
Limited Partner	a business partner who has no management responsibility and whose liability for company debts is limited to his or her financial stake	Girlfriend and Boyfriend
Master Limited Partnership	a limited partnership managed by one of the partners for the benefit of all the partners	StoneMor Partners
Corporation	A company recognized by law as a single body with its own powers and liabilities, separate from those of the individual members. Corporations perform many of the functions of private business, governments, educational bodies, and the professions.	Monsters Inc.
Stock	a supply of goods for sale, kept on the premises by a store or business	The Walt Disney Company
Closed Corporation	A corporation is a separate legal entity that has been incorporated through a legislative or registration process established through legislation.	Mars Co.
Open Corporation	Firm whose shares are publicly traded, and are not monopolized by a small group of investors. Opposite of closed corporation.	Walmart
Domestic Corporation	Local corporation, formed under the laws of the jurisdiction where it is domiciled.	Ford
Foreign Corporation	Firm incorporated under the laws of a foreign jurisdiction and owned or controlled by non-nationals. Also called alien corporation, foreign concern, or foreign firm.	Toyota
Alien Corporation	Firm incorporated under the laws of a foreign jurisdiction and owned or controlled by non-nationals. Also called alien corporation, foreign concern, or foreign firm.	Jail Company
Common Stock	Type of security that serves as an evidence of proportionate ownership, imparts proportionate voting rights, and gives its holder unlimited proportionate claim on the assets and income of the firm (after the claims of lenders, and other obligations, are s	Apple Inc.
Preferred Stock	Class of stock (shares) that pays fixed and regular interest income, instead of a dividend (whose payment and amount depends on factors beyond stockholder's control). Holders of preferred stock have claim over the firm's earnings (and assets in case of li	Bank of America
Dividend	A share of the after-tax profit of a company, distributed to its shareholders according to the number and class of shares held by them.	ABC Company
Proxy	Written authorization from an absent member (or a shareholder, called the 'principal') that confers a limited power of attorney on another person, member, or management of the firm (called 'agent' or 'proxy') to vote on behalf of, and in accordance with t	Soldier at war
Board of Directors	Its members (directors) are elected normally by the subscribers (stockholders) of the firm (generally at an annual general meeting or AGM) to govern the firm and look after the subscribers' interests.	School Executives
Corporate Officers	The executives of a corporation charged with certain operational responsibilities.	Donald Trump
Limited Liability	The legal protection available to the shareholders of privately and publicly owned corporations under which the financial liability of each shareholder for the company's debts and obligations is limited to the par value of his or her fully paid-up shares.	Upcoming Payroll
S-Corporation	Type of the US corporate structure in which the firm's income is passed through its stockholders (shareholders) in proportion of their investment, and taxed at personal income tax rates. S corporations ('S' stands for 'small') can have only one type of st	California Tax Service
Limited-Liability Company	Relatively recent type of US business structure that combines the limited personal liability feature of a corporation with the single taxation feature of a partnership or sole-proprietorship firm. Its profits and tax benefits are split any way the stockho	Doctors Office
Not-for-Profit Corporation	An incorporated organization which exists for educational or charitable reasons, and from which its shareholders or trustees do not benefit financially.	Relay For Life
Cooperative	Working or acting together with others, or done by people working or acting together	Heartland Nuts ‘N More
Joint Venture	A contractual agreement joining together two or more parties for the purpose of executing a particular business undertaking. All parties agree to share in the profits and losses of the enterprise	Apple Retail Stores
Syndicate	An association of businesses jointly contributing capital to a major project	Lloyd's of London insurance
Merger	The joining together of two or more companies or organizations	Hersey and Resses
Hostile Takeover	A takeover which goes against the wishes of the target company's management and board of directors. opposite of friendly takeover	Vulcan Materials
Tender Offer	A takeover bid in the form of a public invitation to shareholders to sell their stock, generally at a price above the market price.	Board of Directors
Proxy Fight	A strategy that may accompany a hostile takeover. A proxy fight occurs when the acquiring company attempts to convince shareholders to use their proxy votes to install new management that is open to the takeover. The technique allows the acquired to avoid	Harbinger Capital Partners Funds is attempting to gain a presence on the board of directors of the New York Times.
Stockholder	somebody who owns one or more shares of a company's stock	Self

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