Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/32

Click to flip

32 Cards in this Set

  • Front
  • Back
ACQUISTION
OCCURS WHEN A COMPANY THE ASSETS AND ASSUMES THE LIABILITIES OF ANOTHER FIRM.
FRANCHISE
a contract that establishes a relationship between a supplier and a dealer of a good and service.
FRANCHISEE
THE PURCHASER OF A FRANCHISE
FRANCHISOR
ARE COMPANIES THAT SELL FRANCHISES TO INDEPENDENT BUSINESS PEOPLE.
LIMITED LIABILITY COMPANY
the firm is goverend under an operating agreement resembling a partnership, except that each partners liability for the actions of the other owners is limited.
DOMESTIC CORPORATION
a corporation that operates in the state in which it was chartered
CORPORATE CHARTER
is the legal document granted by the state of incorporation that formally establishes a corporation.
CONGLOMERATE MERGER
is a merger between firms whose businesses are unrelated.
HOME-BASED BUSINESS
operated from the residence of the business owner, is a widely used and low-cost option for new firms.
SMALL BUSINESS ADMINISTRATION
is the principle federal government agency that aids, counsels and assists small businesses.
COMMON STOCKHOLDERS
the true owners of a corporation,who are employed to elect the broad of directors.
HORIZONTAL MERGER
one firm combines with another firm in the same industry.
SMALL BUSINESS
is generally defined as any firm that is independently owned operated.
CORPORATION
is legal organization whose assets and liabilities are seperate from those of its owner.
SOLE PROPRIERTORSHIP
a business that is owned by one person.
COOPERATIVE
is organization in which the owners operate collectively.
ALIEN CORPORATION
A CORPORATION INCORPORATED IN ANOTHER COUNTRY THAT DOES BUSINESS IN THE US
PREFERRED STOCK
HAVE THE FIRST CLAIM TO THE CORPORATE ASSETS AFTER ALL DEBTS HAVE BEEN PAID.
PUBLIC OWNERSHIP
MEANS THAT AN ORGANIZATION IS OWNED AND OPERATED BY A GOVERNMENT
CLOSELY HELD CORPORATION
A CORPORATION WITH RELATIVELY FEW STOCKHOLDERS, WHOSE STOCK IS GENERALL UNAVAILABLE TO OUTSIDERS.
BOARD OF DIRECTORS
THE GOVERNING AUTHORITY OF A CORPORATION, ELECTED BY THE COMMON STOCKHOLDERS
OUTSIDE DIRECTORS
NOT EMPLOYED BY THE ORGANIZATION
S CORPORATIONS
CAN ELECT TO BE TAXED AS PARTNERSHIPS WHILE MAINTAINING THE ADVANTAGES OF CORPORATIONS.
VERTICAL MERGER
WHEN FIRMS AT DIFFERENT LEVELS IN THE CHANNEL OF DISTRIBUTION DECIDE TO COMBINE INTO ONE COMPANY.
INSIDE DIRECTOR
EMPLOYED BY THE CORPORATION
MERGER
WHEN TWO OR MORE FIRMS COMBINE TO MAKE ONE COMPANY
SET A SIDE PROGRAMS
TO ENSURE THAT SMALL BUSINESSES WILL BE ABLE TO GET PART OF THE FEDERAL GOVERNMENTS BUSINESS BY REQUIRING THAT ALL PART OF A CERTAIN GOVERNMENT CONTRACTS BE GIVEN TO SMALL BUSINESSES.
BUSINESS INCUBATOR
AN ORGANIZATION THAT PROVIDES LOW-COST COMMON FACILITIES AND SERVICES TO SMALL, START UP BUSINESSES.
SMALL BUSINESS INVESTMENT COMPANY (SBIC)
IS A FEDERALLY LICENSED INVESTMENT GROUP THAT MAKES LOANS TO SMALL FIRMS.
BUSINESS PLAN
WRITTEN DOCUMENT THAT PROVIDES A STATEMENT OF A COMPANYS GOALS AND METHODS BY WHICH IT WILL ACHIEVE THOSE GOALS.
FOREIGN CORPORATION
A CORPORATION THAT HAS BEEN INCORPORATED IN A STATE OTHER THAN THE ONE IN WHICH IT IS OPERATING
JOINT VENTURE
A PARTNERSHIP BETWEEN COMPANIES FORMED FOR A SPECIFIC UNDERSTAKING