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Vocabulary 1
Vocabulary 2
Corporations
Partnerships
Sole Proprietorship
100
Liability protection
What is insurance
100
a participant in a partnership who has unlimited personal liability and takes full responsibility for managing the business.
What is general partner
100
which type of corporate form is expensive to set up?
What is C corporation
100
partners in a business whose liability is limited to their investment
What is limited partners
100
The principal disadvantage of a sole proprietorship
What is financial or money
200
a business that is registered by a state
What is corporation
200
an entity that pays taxes on earnings
What is C-corporation
200
Ownership or equity in a corporation is represented by _______
What is shares of stock
200
an unincorporated business with two or more partners
What is a partnership
200
The easiest and most popular form of business to create is the________
What is sole proprietorship
300
Corporations that make money for reasons other than for the owners profit.
What is nonprofit corporation
300
when corporate shareholders are liable only up to the amount of their individual investment
What is limited liability
300
what are dividends?
What is money given to shareholders for owning stock in the company
300
The law requires that all partnerships have at least one ______
What is general partner
300
The owner of a sole proprietorship is the only one who receives _____. which is the excess money in the business.
What is profits
400
when the owner has full responsibility for all debts and actions of the business
What is unlimited liability
400
a company structure that protects the owners with the limited liability of a corporation
What is limited liability company
400
When you incorporate your business, you file a ___________ with the state in which you are running your business
What is Certificate of incorporation
400
How many partners can a business have?
What is unlimited or as many as they want
400
Sometimes sole proprietorships are called _____ and ____ businesses.
What is mom and pop
500
the owners of the corporation
What is shareholders
500
a corporation taxed like a sole proprietorship or partnership
What is Subchapter S corp
500
Why did I incorporate Mad Science of Northern Indiana?
What is to separate my personal assets from the business assets in case of a law suit.
500
What is it called when a private company wants to sell their stock publicly. The have an_______________ of their stock.
What is initial public offering or IPO
500
Loyalty to a business is called __________
What is goodwill