Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
35 Cards in this Set
- Front
- Back
Articles of partnership describe how business partners will
|
share profits and losses
|
|
One advantage of a sole proprietorship is that the owner
|
receives all the profits
|
|
What is the most common type of business in the United States?
|
sole proprietorship
|
|
How do corporations finance their start-up and operation?
|
by selling stock
|
|
When people buy stock in a business, they become
|
part owners of the company
|
|
One way that businesses demonstrate their responsibility to consumers is to provide
|
products that work as promised
|
|
Workers organize labor unions in order to
|
win better pay and working conditions
|
|
What benefit of union membership is shown in this document?
|
higher wages to union members
|
|
Which of these is a responsibility of businesses to workers?
|
follow fair hiring practices
|
|
Why do businesses give money to foundations and charities?
|
a sense of social responsibility
|
|
Which type of organization is most likely to need donations from corporations to work?
|
nonprofit corporation
|
|
What does the social responsibility of a business refer to?
|
desire to give back to the community
|
|
Which of these topics is a required subject of collective bargaining?
|
decisions about wages and work hours
|
|
How does a nonprofit differ from a corporation?
|
makes no profit
|
|
Which of these is most likely to be a nonprofit organization?
|
public hospital
|
|
Who shares the profits of a corporation?
|
|
|
Which form of business is most likely for a company that makes automobiles?
|
corporation
|
|
What is the difference between a general partner and a limited partner?
|
|
|
Check all that apply. Which of the following states do not have right-to-work laws?
|
Ohio, New York, Montana
|
|
The owners of a corporation are the ___, but the board of directors and top managers run the business
|
stockholders
|
|
In a ___, workers must join the union once they are hired
|
union shop
|
|
The type of business in which an owner buys the sole right to sell a company's products in a particular area is called a ___
|
franchise |
|
A corporation must file a document called a ___ with the state government in order to do business
|
charter
|
|
Workers join together in labor unions so they can carry out ___ with companies in order to win better wages and working conditions
|
collective bargaining
|
|
Truthful advertising is a responsibility that businesses have to ___, the people who buy their products
|
consumers
|
|
The type of business that has only a single owner is a ___
|
sole proprietorship
|
|
process in which a third party helps labor and management reach a compromise
|
mediation
|
|
work arrangement in workers are required to pay a fee to the union for representing them even if they do not join the union
|
agency shop |
|
work arrangement in which workers are not required to join a union to be hired or to keep a job; but workers must, however remain in the union if they decide to join |
modified union shop
|
|
negotiating a contract on behalf of a group of workers
|
collective bargaining
|
|
group elected to act on behalf of stockholders and set policy for a corporation
|
board of directors
|
|
obligation of businesses to pursue goals that benefit society
|
social responsibility
|
|
the process of making business deals or conditions more visible to everyone
|
transparency
|
|
rule that prevents mandatory union membership
|
right-to-work law
|
|
use of a third party to decide how to settle a disagreement
|
arbitration
|