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33 Cards in this Set
- Front
- Back
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acquisition |
occur when one company completely buys out another company |
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board of directors |
usually set policy for the corporation and make the major business and financing decisions |
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C corporation |
corporations governed by Subchapter C of the Internal Revenue Code |
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capital |
investment in the form of money, equipment, supplies, computers, and other tangible things of value |
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chief executive officer |
typically responsible for the entire operations of the corporation and report directly to the board of directors |
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chief financial officer |
report directly to the CEO and are responsible for analyzing and reviewing the financial data, reporting financial performance, preparing budgets, and monitoring expenditure and costs |
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chief operating officer |
responsible for the day-to-day operations of the organization and report directly to the CEO |
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conglomeration |
a combination of a number of different, perhaps even unrelated, businesses into a single corporation |
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cooperatives |
businesses that are owned and governed by members who use its products or services, not by outside investors |
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corporation |
a specific form of business organization that is a legal entity separate from the owner or owners |
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double taxation |
the situation that occurs when taxes are paid on the same asset twice |
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first-line managers |
fill a supervisory role over those employees who carry out off the day-to-day operations of a company |
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general partners |
full owners of the business, are responsible for all the day-to-day business decisions, and remain liable for all the debts and obligations of a business |
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general partnership |
businesses where every partner participates in the daily management tasks of the business, and each has some degree of control over the decisions made |
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horizontal merger |
occur when two companies that share the same product lines and markets and are in direct competition with each other merge |
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liability |
the obligation to pay a debt, such as an account payable or a loan |
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limited liability corporation |
companies in which the owners have limited personal liability for the debts and the actions of the company |
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limited partner |
involved as investors and, as such, are personally liable only up to the amount of their investment in the business and must not actively participate in any decisions of the business |
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limited partnership |
businesses where at least one partner controls a business's operations and is personally liable |
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market extension merger |
a merger between two companies that sell the same products in different markets |
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merger |
occur when two companies of similar size mutually agree to combine to form a new company |
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not-for-profit organization |
businesses that do not pursue profits but instead seek to service the community through social, educational, or political means |
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partnership |
a type of business structure in which two or more identities (or partners) share the ownership and the profits and losses of the business |
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partnership agreement |
formalizes the relationship between the business partners |
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product extension merger |
a merger between two companies selling different but related products in the same market |
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publicly owned corporation |
corporations that are regulated by the Securities and Exchange Commission |
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S corporation |
regular corporations (C corporations) that have elected to be taxed under a special section of the Internal Revenue Code called Subchapter S |
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shareholder |
has an ownership interest in a company |
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sole proprietorship |
an unincorporated business owned (and usually controlled) by a single individual |
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stockholder |
owners of a company, and although they do not have direct control over the day-to-day management of a company, they do have a say in the composition of its board of directors |
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synergy |
the effect achieved when two companies combine, in which the result is better than each company could achieve individually |
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unlimited liability |
means that if business assets aren't enough to pay business debts, then personal assets, such as the sole proprietor's house, personal investments, or retirement funds, can be used to pay the balance |
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vertical merger |
a merger between two companies that have a company/customer relationship or a company/supplier relationship, such as Walt Disney and Pixar or eBay and PayPal |
