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100
What is a business organization?
The ownership structure of a company or firm
100
What are dividends?
the portion of corporate profits paid out to stockholders
100
An activity in which individuals become partners for only a short period of time, or for only a single project.
joint venture
100
What is a franchise?
A contract that gives a single firm the right to sell it’s goods within an exclusive market
100
Taco Bell would be an example of what type of store?
Franchisee
200
List three types of business organizations
sole proprietorship, partnership, corporation, franchise
200
double taxation is a negative of which business organization?
corporation
200
When the owner of a business is not personally liable for all of the debts and obligations of the business
limited liability
200
Give me an example of a franchise...
...
200
What is a bond?
A formal contract issued by a corporation or other entity that includes the promise to repay borrowed money with interest at fixed intervals
300
A business organization owned by two or more persons who agree on a specific division of responsibilities and profits is the definition of what business org?
partnership
300
What would be an example of a sole proprietorshiP?
various answers accepted
300
A corporation that is taxed as a partnership
subchapter S corporation
300
What's a disadvantage of a franchise?
less independence in some business decisions restricted territory in which you may operate and/or promote your business ongoing payment of fees to the franchisor
300
What is a limited liability corporation
Limited liability corporation – a type of business with limited liability for the owners with the advantage of not paying corporate income tax
400
Legal entity, owned by individual stockholders, each of whom has limited liability for the firm’s debt is the definition of?
Corporation
400
What is a stock?
a certificate of ownership in a corporation
400
What is a general partnership?
a type of partnership in which all partners share equally in both responsibility and liability
400
Ray Kroc is the reason for what modern day franchise?
McDonald's
400
What is a positive about a corporation
By selling shares on the stock market, corporations can raise large amounts of capital Limited liability for owners
500
More than 70% of businesses in America are organized as this type of business organization.
sole proprietorship
500
A legal document that lists the general powers of a corporation
What is articles of incorporation
500
What is a limited partnership?
a type of partnership in which only one partner is required to be a general partner
500
What is an advantage of a franchise?
association with a well established brand assistance with site selection, lease negotiation, site development initial management training and continuing management assistance; advertising and merchandising assistance
500
There are two different types of corporations. Explain one of the two corporation types.
Closely held corporations Issues stocks to only a few people, who are often family members Publicly held corporations Has many shareholders who can buy or sell stock on the open market.
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