Section 1
Beginning business enterprise
Start-up
What's the owner of a Business?
proprietor
What's limited liability?
the requirement in which an owner's responsibility for a company's debts is limited to the size of the owner's investment in the firm.
What's a joint venture?
partnership set up for a specific purpose just for a short period of time
Fiesta
Income received from the sale of goods and/or services also, slips of paper documenting a purchase
Recipts
business that two or more individuals own and operate
What's "share of ownership in a corporation that entitles the buyer to a certain part of the future profits and assets of the corporation"
stock
What's corporate charter?
It's a license to operate granted to a corporation by the state where it is established
What's the Population in Beresford.
About 1900-2000.
Extra supply of the items used in a business, such as raw materials or goods for sale.
Inventory
What are assets?
All items to which a business or household holds legal claim
What's franchise?
A contract in which one business (the franchiser) sells to another business (the franchisee)the right to use the franchiser's name and sell its product
What's Profit?
a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
what business in Beresford is named after a native American tribe
Sioux
a person who organize, manage and assumes the risks of a business in order to gain profit
entrepreneur
the special form of partnership in which one or more partners have limited liability but no voice in management
limited partnership
Corporation?
type of business organization owned by many people but treated by law as though it were a person
What're articles of incorporation
A document listing basic information about a corporation that is filed with the state were the corporation will be headquartered
When is the High School first build?
The Summer of 1998
What is small business Incubator?
A private or government-funded agency that assists new businesses by providing advice or low rent building and supplies
What's the biggest advantage of sole proprietorships? Explain definition?
unlimited liability-requirement that an owner is personally and fully responsible for all losses and debt of a business.
What's Dividend?
portion of a corporation's profits paid to its stockholders
shares of ownership in a corporation that give stockholders voting rights and an portion of future profits
When is the First Beresford School First build(Hint: Old one, It's in 192_)
Complete in 1926.