Investor's responsibility for the debts of business which is limited by the size of his or her investment in the business.
100
What is multinational?
Corporation that has manufacturing or service operations in a number of countries
100
What is a consumer cooperative?
Voluntary association that buys bulk amounts of goods on behalf of its members.
100
What is a dividend?
Payment to a stockholder representing a portion of the corporate earnings.
200
What is stock?
Ownership certificates in a firm.
200
What is net income?
revenues minus expenses, including taxes
200
What is collective bargaining?
negotiation by a labor union with management over issues such as pay, working hours, and vacation.
200
What is a Non-Profit Organization?
Org that operates in a businesslike way to promote the collective interests of its members rather than to seek profit for its owners.
200
What is a credit union?
Financial org. that accepts deposits from and makes loans to employees from a particular company or government agency.
300
What does the local chamber of commerce work to do?
Promote the welfare of its members and the community.
300
Limited liability is a characteristic of a _______.
Corporation
300
What is a major disadvantage of a general partnership?
Each partner is responsible for the actions of the other.
300
T/F When two firms merge they both retain their legal identity?
False False False
300
What is the difference between a limited partnership and a general partnership?
In a limited partnership the inactive partner has limited liability fro the business's debts.
400
Give me 3 things a non profit organization does not have to do that a regular corporation has to do.
Issue stock
pay dividends
pay income taxes
400
What is depreciation?
Non-cash charge a firm takes for the general wear and tear on its capital goods,.
400
What is a major reason companies merge with each other?
To diversify their products.
400
What is an advantage of a corporation?
Owners have limited liability over debts.
400
A merger of corporations involved in different steps of manufacturing or marketing is known as a ___________.
Vertical Merger
500
What is it called when two companies in the same market merge together to create one large company?
A Horizontal Merger
500
Movie Quote
Viper: In case some of you are wondering who the best is they are up here on this plaque.
[turns to Maverick]
Viper: Do you think your name will be on that plaque?
Maverick: Yes sir.
Viper: That's pretty arrogant considering the company here, don't you think?
Maverick: Yes sir.
Viper: I like that in a pilot.
Top Gun
500
***Double***
MOVIE QUOTE
"If I'm not back in five minutes....just wait longer"
Ace Ventura - Pet Detective.
500
You either die a hero or you live long enough to see yourself become a villain.