Sole Proprietorships
Partnerships
Corporations
Growth through reinvestment
Growth through Mergers
100
The most common form of business organization is the United States
What is Sole Proprietorships
100
A business that is jointly owned by two or more persons
What is partnership
100
Form of business organization recognized by law as a separate legal entity with all rights of an individual
What is corporation
100
A report showing a business’s sales, expenses, net income, and cash flows for a period of time
What is income statement
100
A combination of two or more businesses to form a single firm
What is a merger
200
A business owned and run by a single individual
What is Proprietorship
200
In which all partners are responsible for managment and financial obligations of the business
What is general partnership
200
A government document that gives permission to create a corporation
What is a charter
200
The funds left over after all of the firm’s expenses
What is net income
200
When firms that produce the same kind of product join forces
What is a horizontal merger
300
Disadvantage meaning a owner is personally and fully responsible for all loses and debts of their business
What is Unlimited Liability
300
Legal papers usually drawn up to specify arrangements between partners
What is articles of partnership
300
Written promise to repay amount borrowed at a later date
What is a bond
300
Noncash charge the firm takes for the general wear and tear on its capital goods
What is depreciation
300
When companies involved in different stages of manufacturing or marketing join together
What is vertical merger
400
A stock of finished goods and parts in reserve
What is Inventory
400
When at least one partner is not active in the daily running of the business
What is limited partnership
400
Amount borrowed
What is the principal
400
Sum of net income and noncash charges
What is cash flow
400
A firm that has at least four businesses, each making unrelated products
What is a conglomerate
500
Disadvantage of sole proprietorship meaning that the firm legally ceases to exist when owner dies, quits, or sells business
What is Limited Life
500
Where partners have to submit special schedules of their profits from the partnership
What is Internal Revenue Service
500
Price paid for the use of another’s money
What is Interest
500
What investors look for in the financial health of a firm
What is positive cash flow
500
A corporation that has manufacturing or service operations in a number of different countries.
What is Multinational
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