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73 Cards in this Set

  • Front
  • Back

universal partenership

the present property and profit belong to a common fund for dividend purposes in the future

general partnership

each of the partners is jointly liable for any or all outstanding financial obligations of the business enterprise

limited partnership

each partner is equally liable for the shortcomings and shortfalls of the business up to a fix amount only

single proprietorship



three forms of legal business organizatiob

secret partner

an owner who takes an active role in the business but doesn't want to disclose his identity

silent partner

a partner who also takes an active role in the business but may be known by the public

dormant partner

he plays no active role in the business and is unknown to the public

nominal partner

an individual who does not own the business but suggests by words or deeds that he is a partner

senior partner

one who has been with the partnership for a long time and generally owns a large share of the business

junior partner

has been in the business for a short period of time and not expected to assume a great responsibility in major decisions

capitalist partber

contributions to the business is in the form of money or currency

industrial partner

the partners contribution are in the form of his own labor or industry to the business

partnership agreement

a document that sets forth all the terms under which a partnership is to operate


pertains to how much each party contribute to acquire the property and to pay the on going expenses

percentage ownership

parties acquire equal interests, regardless of how much each contributes

sale or transfer

unless the parties restrict the right to sell or transfer an interest, any owner has the right to sell their interest to a stranger or demand sale of the entire property


dictate the flow of work to become sytematic


pertains to how space is allocated if co owners occupy the property at the same time the liability


pertains to how to end the relationship and dispose of the property


most complex form of organization

public corporation

owned by the government

closed private corporation

a family type of corporation where only the members of one family are the members

open private corporation

have big number of stockholders


a relationship between the seller and the buyer where the seller grants the buyer the rights and license to sell a product or service developed by the franchisor

tradename franchise

identified with the tradename without having to distribute the product exclusively under the manufacturer's name

product franchise

purchase the right to resell specific products that are sold through an exclusive distribution network under the manufacturer's name


supplies a complete business format that includes every aspect of the business

Application (DTI)

Mayor permit

license fee (bir)

legal requirements for single proprietorship



category captains

key advisors within the industry

sales per linear foot of shelf space

inventory turns


unit sales

category management tools

category management

focuses on the performance of product categories rather than on individual brands

SEC certificate


Sell stocks/bonds

Board of directors

Legal requirements for corporation

Floor Plan / economic layout

Diagram to locate merchandise, how customers circulate and how much space is utilizied

Free flow

No aisles or straight lines; fixtures at angles


Fixtures ran parallel to walls, with clean straight lines for maximum exposure to merchandise

Circulation loop

Main aisle that circles the store with fixtures perimeter to the wall


Single aisle on either side of which are merchandise displays

Front area

After the entrance door, surrounded by merchandise

Decompression zone

Space just upon entering the fron door, usually 5-15ft

Area for customer transition

Speed bumps

Merchandise displays that slow down customers; usually for seasonal or new merchandise and rotation items

Powerwall or Perception Builder

Key merchandising area located at the right side of DZ, displays of high demand or increase profit items

Check out counter

Located at the left side of the store with interesting displays of impulsive goods for continued shopping

Bureau of Income Revenue


Merchandise Outpost

Found near aisles to encourage impulsive purchases

Fixtures or Silent Salesman

Are in a fixed location or immobile which includes sink, medicine cabinets, dispensing counters




Three elements of lighting

General Illumination

Type of lighting in which it consists of direct, indirect and semi direct type of lighting

Display illumination

Highlights a specific group of merchandise like display windows which gives attractive lighting effects

Decorative illumination

Decorates or gives ornament to displays like neon signs or translucent glass blocks with colored lights

Planned decoration or color engineering

Pleasant shades and proper combination of color ceiling, walls and floor add to the attractiveness to the store

Installation of air conditioning

To reduce extremes in temperature, for added comfort of employees and customers

Sound proofing

Provides more quiet and less nerve racking working and more pleasant purchasing conditions

Merchandising or Trading

All activities in aquiring particular goods and making them available at the right place, time and price in a quantity that enables a retailer to reach its goals

Tax identification Number



For retailers who frequently adjust displaces, shelf-space and merchandise based on consumer's wants/needs

Cross merchandising

For retailers who carry complementary goods and services to encourage shoppers to but more


Diversification of product line

Generic and Brand Naming

Assures that there is a similarity in active ingredients and the same activity which ellicits effectiveness


Deciding on when certain merchandise is purchase, displayed and sold


How the stock is allocated either between stores or once in the store how much is displayed on shelves or in storage area


An estimate prediction of future development in business such as sales, expenditures and products


Makes the business survive

Staple/ basic stocks

These are regular items found in the retail store

fashion or model items

These are unpredictable items that cost cynical sales due to changing tastes and lifestyles

Professional Tax Receipt


Seasonal items

Only sell at specific dates

Security and Exchange Comission


Value added tax



Critical element greatly affecting cost, has a major impact on overall profit, affected by globalization

Store arrangement

Careful study should be given to the arrangement of the store in order to increase and facilitate the transaction of business; maximize the utilization of space

Shopping goods/ department store type

The customers are made to pass as many tempting display as possible on his way to purchase

Convenience goods

The merchandise are placed on open tables or open boxes so that they may be bought most conveniently by the customers