Sole Proprietorship/Partners
Corporations/stocks
Government/Business Regulations/Mergers
Organizations/
Cooperatives
Vocabulary
100
A business run by one person.
What is Sole Proprietorship
100
A business organization recognized by law as a separate legal entity with all the rights of an individual.
What is a Corporation
100
A corporation with manufacturing and service operations in several countries.
What is Multinational
100
The American Red Cross, some hospitals and churches are examples of this
What is Nonprofit Organization
100
works on behalf of promoting the welfare of its members and the welfare of the community.
What is Local Chamber of Commerce
200
A business jointly owned by two or more persons.
What is a Partnership
200
Ownership certificates in a firm
What is Stock
200
The U.S. postal service is an example of the government playing a _______ role in the economy.
What is Direct
200
Represent workers' interest and negotiate with management through collective bargaining.
What is Labor Unions
200
Money that is borrowed
What is Principal
300
One ______ of a general partnership is that partners are responsible for the acts of each and every partner
What is a disadvantage
300
Regulates the sale of stock in a corporation
What is the Securities and Exchange Commission
300
When firms merge, one gives up its _____ ____ ____
What is Separate Legal Identity
300
voluntary association of people who carry on an economic activity that benefits its members
What is Cooperative
300
the loss a firm takes from the general wear and tear on its capital goods
What is Depreciation
400
In a _______ at least one partner is not involved in management.
What is a limited partnership
400
One advantage of corporations is that owners have _______ ________
What is limited liability
400
A government is playing a ______ role in the economy when its agencies produce and distribute goods and services to consumers.
What is direct
400
negotiation between a labor union and management over things such as pay, working hours or vacation and benefits
What is Collective Bargaining
400
Payment a stockholder receives that represents a portion of their corporate earnings
What is a Dividend
500
Document that spells out how the partners divide up the profits and losses.
What are Articles of the Partnership
500
One disadvantage is that corporate income is _____ _____
What is Taxed Twice
500
is the joining of firms involved in different stages of manufacturing or marketing
What is a Vertical Merger
500
buy food and other necessities in bulk so that members can pay lower prices for goods.
What is Consumer Cooperative
500
When the court grants permission to a person or business to cease or postpone the paying back of debts
What is Bankruptcy
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