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100

Give me an example of a non-profit

Church, hospital, adoption agency, school, credit union

100

What is a major disadvantage of a corporation?

Double Taxation 

Both corporate income and stockholder profits are taxed

100

What is a dividend?

a quarterly payment of profits made to stockholders/shareholders
100

Sarah owns stock in YouTube. What does that mean?

She owns a small portion of YouTube and receives portions of it's profits

100

Joe owns a small restaurant and decides to retire. When he does, his restaurant closes down as well.

What is this an example of? 

Limited Life

200

Rob and Mark own a bakery together but Rob has more liability than Mark does. What business structure do they have? 

Limited Partnership

200
How money flows in and out of a business

Cash Flow

200

Union workers at a hospital meet with their employers to discuss better pay and health benefits. They are participating in what concept?

Collective Bargaining

200

T  or  F

an income statement shows only a business's profits

F 

Income statements show a business's profits AND expenses 

200
Why do so many corporations "incorporate" in Delaware?

Delaware offers tax breaks and has more legal protection for businesses

300

What is an advantage of non-profits?

They are exempt from federal taxes

300

A Nonprofit business organization set up by businesses for consumers to promote ethical business practices

Better Business Bureau (BBB)


300

Jewel + Aldi combine 

Starbucks + Dunkin combine


Horizontal Merger

300

Which business structure is most common in the US?

Sole Proprietorship

300

A business owned and operated for the benefit of its members 

Ex: A credit Union

Cooperative / Co-Op

400

Lech Bakery has operations in the US, France and Japan. Lech bakery is an example of...

a Multinational

400

What is a bond?

A loan made to a company or government

400
What is a disadvantage of an LLC?
It can be harder and more expensive to set up than a sole proprietorship
400

A business where the owner licenses its trade name/model to another person

Franchise

400

What is a conglomerate?

A company made up of 4 or more unrelated businesses

500

Aldi decides to merge with its suppliers and producers into one large company. What is this an example of? 

Vertical Merger

500

What are the 3 things a corporation has the legal right to do?

1. Sue and be sued

2. Enter legal contracts

3. Buy and sell land

500

What is a Venture Capitalist?

(Hint: Think Shark Tank)

An investor in a company looking for a profit return through partial ownership
500

What is Double Taxation? 

Corporations being taxed on profits and shareholders on dividends

500

How is net income calculated?

Profits - expenses (bills, rent, wages, etc) = net income