In this type of partnership each person has unlimited liability
What is general partnership
100
This is the most popular form of business ownership in the U.S.
What is sole proprietorship
100
This is the legal document between partners that identifies the basic agreements between partners
What is articles of partnerships
100
This is when companies that make and sell similar products to the same customers merge
What is horizontal merger
100
This is a group of people elected by the stockholders to oversee the general operation of the corporation and set long-range goals
What is board of directors
200
This must be at the end of a corporation's name in most states
What is corporation, incorporated, or limited
200
Average incomes of sole proprietorships are generally
What is small
200
In a partnership, partners are taxed
What is on their individual taxes
200
This is when two companies merge that operate at different but related levels of an industry
What is vertical merger
200
This is a type of corporation that has restrictions on number and types of shareholders and difficult to form and operate
What is a S Corporation
300
This is typically a business's main reason for going public
What is to raise money
300
This is the main disadvantage of a sole proprietorship
What is unlimited liability
300
This is issued to a corporation upon approval of their articles of incorporation
What is corporate charter
300
This is when a group of investors borrow money from banks and other institutions to acquire a company (or a division of a company) using the assets of the purchased company to guarantee a loan
What is a leveraged buyout
300
This is a partnership established for a specific project or limited time
What is a joint venture
400
This is when two unrelated industries merge
What is a conglomerate merger
400
This is why it is difficult to sell a stake in a partnership
What is it's hard to place a value on a partnership
400
This type of form of business is the most expensive to start up
What is corporation
400
This is a term given for the explosion of mergers, acquisitions, and leveraged buyouts in 1980s and 1990s
What is merger mania
400
This is an organization composed of individuals or small businesses that have banded together to reap the benefits of belonging to a larger organization
What is a co-op
500
This is when a company tries to avoid a company takeover by requiring a large majority of stockholders to approve the takeover.
What is shark repellant
500
This is a type of partner who invests in a company but their risk is only what they have invested in the company
What is limited
500
This is what companies do to increase in size and profitability
What is expand
500
This is a person who wants to acquire or take over another company
What is a corporate raider
500
This is a company that is owned and operated by the federal, state, or local government and is non profit