Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Wills econ
Term Sheet 5.1-5.3
| Question | Answer |
|---|---|
| Sole Proprietorship | refers to a person who owns the business and is personally responsible for its debts. |
| Business Organization | an entity aimed at carrying on commercial enterprise by providing goods or services, to meet needs of the customers. |
| Business License | permits issued by government agencies that allow individuals or companies to conduct business within the government's geographical jurisdiction. It is the authorization to start a business issued by the local government. |
| Zoning Laws | municipal or local laws or regulations that dictate how real property can and cannot be used in certain geographic areas. |
| Liability | A company's legal debts or obligations that arise during the course of business operations. |
| Partnership | an arrangement between two or more people to oversee business operations and share its profits and liabilities. |
| General Partnership | business arrangement by which two or more individuals agree to share in all assets, profits, and financial and legal liabilities of a jointly-owned business. |
| Limited Partnership | exists when two or more partners go into business together, but one or more of the partners are only liable up to the amount of their investment. |
| Limited Liability Partnership | a partnership in which some or all partners have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence. |
| Articles of Partnership | is a voluntary contract between/among two or more persons to place their capital, labor, and skills into business, with the understanding that there will be a sharing of the profits and losses between/among partners. |
| Assets | a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit. |
| Business Franchise | business owned by an entrepreneur or an entrepreneurial group, offering a product or service that provides assistance in every aspect of the business, in return for a combination of a flat fee, plus fees based on profits or sales. |
| Corporation | is a legal entity that is separate and distinct from its owners. |
| Stock | securities that represent an ownership share in a company. |
| Closely Held Corporations | A corporation, often owned by a few people or by a family, that does not offer its stock for sale to the general public. |
| Publicly Held Corporations | A corporation whose stock is widely held, has a large market, and is usually traded on a stock exchange. |
| Bond | Promises to repay with interest the amount borrowed from the buyer Maturity |
| Certificate of Incorporation | a license to form a corporation issued by a state government |
| Dividends | The portion of a corporate profits paid out to stock holders |
| Limited Liability Corporations | a type of business with limited liability for the owners with the advantage of not paying corporate income tax (abbreviation) |
| Horizontal Merger | the combination of two or more firms competing in the same market with the same good or service |
| Vertical Merger | two or more firms involved in different stages of producting the same good or service |
| Conglomerate Merger | a business combination merging more than three businesses that produce unrelated products or services |
| Multinational Corporation | a large corporation that produces and sells its goods and services in more than one country |
Created by:
deleted user
Popular Economics sets