1
a business owned and run by one person.
Sole proprietorship
business jointly owned by two or more persons.
Partnerships
at least one partner is not active in running the business and has limited responsibility for the debts & obligations of the business.
limited partnership
all partners actively run the business
General Partnerships
What is the main ingredient of the dish called "baba ghanoush"?
Eggplant
The money from the stockholders (investors) is used to set up the firm.
financial capital
shareholders – investors in a corporation
stockholders
the firms profits are taxed and then the profit that is distributed to shareholders is also taxed.
double taxation
a form of business organization that is recognized by the law as having all the legal rights of an individual.
Corporation
What type of animal was Bambi's friend Flower?
Skunk
gradual wear and tear (the amount less your stuff is worth at the end than it was at the beginning)
Depreciation
when two or more firms that make the same product join forces.
horizontal merger
when firms involved in different steps of the manufacturing or marketing join together.
vertical merger
shows how much money the business makes and spends.
income statement
What is the name of the last videogame console Sega released in the United States?
Dreamcast
basic form of ownership in a corporation. Each share is worth one vote for the board of directors, who run the company.
common stock
operates like a business to promote the collective interests of its members rather than to seek financial gain for its owners
nonprofit organization
a voluntary association of people formed to carry on some kind of economic activity that will benefit its members.
Cooperative
non-voting shares of stock, but these shareholders receive profits before common stockholders.
preferred stock
In the Harry Potter series, who sings "I killed Sirius Black" to infuriate Harry?
Bellatrix Lestrange
It is a financial organization that accepts deposits from, and makes loans to, employees of a particular company or government agency.
Credit Union
you are responsible for everything, debts
unlimited liability
business dies when you die
limited life
The initial price of a stock
IPO
Where is the largest outdoor rodeo held in the U.S.?
Cheyenne, Wyoming