Chapter 3
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| Sole Proprietorship | Unincorporated business owned and run by a single person who has the rights to all profits and unlimited liability for all debts of the firm. Most common form of business in the US.
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| Partnership | Unincorporated business owned and operated by tow or more people who share profits and have unlimited liability for the debts and obligation of the firm. Same as general partnership.
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| Corporation | Form of business organization recognized by law as a separate legal entity with all the rights and responsibilities of an individual, including the right to buy and sell property, enter into legal contrast, sue and be sued.
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| Stock | Certificate of ownership in a corporation, common or preferred stock.
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| Stockholder | Person who owns a share or shares of stock in a corporation. Same as shareholders.
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| Dividend | Check paid to stockholders, usually quarterly, representing portion of corporate profits.
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| Bond | Formal contract to repay borrowed money and interest on the borrowed money at regular future intervals.
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| Principal | Amount borrowed when getting a loan or issuing a bond.
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| Interest | Payment made for the use of borrowed money; usually paid at periodic intervals for long-term bonds or loans.
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| Double Taxation | Feature of taxation that allows stockholders' dividends to be taxed both as corporate profit and as personal income.
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| Merger | Combination of two or more business enterprise to form a single firm.
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| Net Income | Measure of business profits determined by subtracting all expenses, including taxes, from revenues.
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| Cash Flow | Total amount of new funds the business generates from operations; broadest
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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