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 exsistence |
Entity with the legal authority to act as a single person. | Corporation |
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 |
Top Management | Compant executives |
Supervisors | First level of managment |
Mixed | Tactical and Stratigic style |
Planning | Analyzing of info, setting goals, and making decisions |
Controlling | Determines to what extent the business is accomplishing goals |
Tactical | Directed and controlling style of management |
Implementing | Directing and leading people |
Stategic | Employees that help with decision making |
Staffing | Obtaining, training, and compensating employees |
Mid-Management | Specialists in a specific area of the business |