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KEY TERMS
KEY TERMS
PART TWO
SOLE PROPRIETORSHP
PARTNERSHIP
CORPORATION
100
LAWS THAT DESIGNATE WHERE A BUSINESS OR RESIDENCE CAN LOCATE
What ARE ZONING LAWS
100
NON PROFIT THAT PROMOTES THE INTEREST OF A PARTICULAR INDUSTRY
What is TRADE ASSOCIATION
100
AUTHORIZATION TO OPERATE A BUSINESS ISSUED BY A LOCAL GOVERNMENT
What is A BUSINESS LICENSE
100
PARTNERSHIP WHERE ONLY ONE IS REQUIRED TO BE A GENERAL PARTNER
What is LIMITED PARTNERSHIP
100
THEY OWN THE CORPORATION
WhO ARE STOCKHOLDERS
200
CORPORATION THAT ISSUES STOCK TO ONLY A FEW PEOPLE, USUALLY FAMILY
What is CLOSELY HELD CORPORATION
200
THIS PARTNER ONLY ADDS MONEY TO THE BUSINESS
What is A LIMITED PARTNER
200
SOLE PROPRIETORSHIPS GENERATE THIS AMOUNT OF U.S. SALES
What is 4%
200
AGREEMENT THAT SPELLS OUT THE RIGHTS AND RESPONSIBILITIES OF EACH PARTNER
What ARE ARTICLES OF PARTNERSHIP
200
THEY HIRE THE OFFICERS OF THE CORPORATION
WhO ARE THE BOARD OF DIRECTORS
300
THE LEGAL OBLIGATION TO PAY DEBTS
What is LIABILITY
300
A BUSINESS OWNED BY A SINGLE INDIVIDUAL
What is A SOLE PROPRIETORSHIP
300
BANKS ARE USUALLY THIS WHEN IT COMES TO LOANING THEM MONEY
What is UNWILLING
300
MOST COMMON FORM OF PARTNERSHIP, DOCTORS, LAWYERS AND OTHER PROFESSIONS
What is A GENERAL PARTNERSHIP
300
THE TAX ON THE PROFIT MADE ON THE SALE OF STOCK
What ARE CAPITAL GAINS
400
THE MONEY AND OTHER VALUABLES BELONGING TO AN INDIVIDUAL OR BUSINESS
What ARE ASSETS
400
PAYMENT TO EMPLOYEES OTHER THAN WAGES
What ARE FRINGE BENEFITS
400
THE OWNERS KEEPS THE PROFITS AFTER THIS
What is INCOME TAX
400
SEMI INDEPENDENT BUSINESS THAT PAYS FEES TO A PARENT COMPANY
What is A FRANCHISE
400
THE MERGER OF THREE OR MORE UNRELATED BUSINESSES
What is A CONGLOMERATE
500
PROVIDES A SERVICE TO ITS MEMBERS AT REDUCED PRICE
What is A SERVICE COOPERATIVE
500
RETAIL OUTLET OWNED BY A GROUP OF PEOPLE THAT SELLS GOODS TO MEMBERS AT REDUCED PRICES
What is A CONSUMER COOPERATIVE
500
WHEN AN OWNER OF THIS BUSINESS RETIRES
What is THE BUSINESS CEASES TO EXIST
500
THEY DEVELOP THE PRODUCTS USED BY THE FRANCHISE
What is THE FRANCHISER
500
MCDONALD'S MERGES WITH BURGER KING
What is A HORIZONTAL MERGER