BUSINESS CH. 6-10

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10 Terms

1
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Sole proprietorship - a form of business ownership with a __________ owner who usually actively manages the company.
SINGLE
2
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A __________ is a voluntary agreement under which two or more people act as co-owners of a business for profit.
Partnership
3
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In a __________ partnership, ALL partners can take an active role in managing the business and have unlimited liability.
General
4
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The document filled with a state government to establish the existence of a new corporation is called __________.
Articles of incorporation
5
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__________ are the individuals who are elected by stockholders of a corporation to represent their interests.
Board of directors
6
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A __________ is a form of corporation that avoids double taxation by having its income taxed as if it were a partnership.
S corporation
7
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An __________ is a corporate restructuring in which one firm buys another.
Acquisition
8
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A __________ is an organization that pools contributions from investors and uses these funds to buy stocks and other securities.
Institutional investor
9
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A __________ is the party in a franchise relationship that pays for the right to use resources supplied by the franchisor.
Franchisee
10
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The principle that a dollar received today is worth more than a dollar received in the future is called __________.
Time value of money