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16 Cards in this Set
- Front
- Back
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Sole Proprietorship |
A business owned and run by one person. |
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Inventory |
A stock of finished goods and parts in reserve. |
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Bankruptcy |
A court granted permission to an individual or business to seize or delay depth payments. |
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Stock |
Ownership certificates in the firm. |
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Dividend |
A check representing a portion of the corporate earnings. |
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Interest |
The price paid for the use of another's money. |
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Limited Life |
The firm legally ceases to exist when the owner dies, quits, or sells the business. |
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General Partnership |
All partners are responsible for the management and financial obligations of the business. |
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Corporation |
A form of business organization recognized by law as a separate legal entity having all the rights of an individual. |
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Stockholder & Shareholder |
An individual who owns a share of stock in a corporation. |
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Bond |
A written promise to repay the amount borrowed at a later date. |
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Double Taxation |
Corporate profit and personal income. |
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Unlimited Liability |
The owner is personally and fully responsible for all losses and debts of the business. |
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Limited Partnership |
The limited partners have limited liability. |
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Charter |
A government document that gives permission to create a corporation. |
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Principal |
The amount borrowed. |
