Corporations
This corporation is taxed like a partnership but only allows 100 stockholders
What is S-Corporation
This partner assumes full or shared responsibility for running a business
Stock that allows and owner to vote
What is Common Stock
Which type of business ownership generates the least revenue in the U.S?
What is Sole Proprietorship
This type of business is organized to improve the community and reinvests all of their profits
Part owner of a corporation
What is Stockholder
Which ownership structure follows double taxation law?
________ is the distribution of profit to stockholders
What is Dividend
The document you must review and sign at least 14 days prior to starting?
FDD (Franchise Disclosure Document)
Owners liability limited to the amount they invested
What is Limited Liability Corporation (LLC)
Stock that is exchanged on the public stock exchange (NYSE & NASDAQ)
What is Open Corporation
What type of ownership most is popular
What is Sole Proprietorship
This type of ownership stock is paid before common stock
What is Preferred Stock
When two corporations come together that are in the same industry and sell similar products and services
Horizontal Merger
Business owners have ________ _________ when they are responsible for ALL debts
What is Unlimited Liability
Incorporated in the state it operates in
What is Domestic Corporation
____________ invests money but has no management responsibility
What is Limited Partner
NYSE stands for?
What is New York Stock Exchange
Who do the stockholders of the corporation elect?
Board of Directors
Percent of profit paid to someone in a franchise
What is Royalty
This combines the pros of corporation and partnership with less restrictions
What is LLC
What is the name of a person purchasing a franchise called
What is Franchisee
Corporation whose stock is owned by a select few and not sold to general public
What is Closed Corporation
Similar to a partnership, a corporation has a required document for its formation outlining the way the business is structured.
Articles of Incorporation
Association whose purpose is to perform business functions for its members
What is Cooperative or Co-Op