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
A contract that gives a single firm the right to sell it’s goods within an exclusive market
What is a franchise?
100
There are four different categories/types of non-profit corporations.
Name one type of non-profit corporation
Religion, Public Benefit, mutual benefit, charity
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
Name one 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
These are the people who are responsible for managing the overall strategy and operations of the firm over the long term. They are elected by the shareholders.
board of directors
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
a type of partnership in which all partners share equally in both responsibility and liability.
What is a general partnership?
400
Ray Kroc is the reason for what modern day franchise?
McDonald's
400
The main officer or "boss" of a corporation is called the
CEO
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
a type of partnership in which only one partner is required to be a general partner.
What is a limited partnership?
500
A relatively new type of business organization that provides all of the owners with limited liability