Econ: Chapter 3 Vocab Flashcard: Business Orginizations (H)

Front

Amount borrowed for a loan or bond issuance

Back

Principal

Front

Check paid to stockholders, usually quarterly, representing a portion of corporate profits.

Back

dividend

Front

Owner of stock in a corporation; same as shareholders.

Back

Stockholders

Front

Form of business recognized as a separate legal entity with rights like buying/selling property and entering contracts.

Back

Corporation

Front

Owner's full responsibility for business losses and debts; applies to proprietorships and general partnerships.

Back

Unlimited liability

Front

Promotes members' collective interests, not for profit.

Back

Nonprofit Organization

Front

Combination of two or more businesses forming a single firm

Back

Merger

Front

Unincorporated business owned by one person with all profits and unlimited liability; most common in the U.S.

Back

Sole proprietorship

Front

Unincorporated business owned by 2+ people sharing profits and having unlimited liability; same as general partnership.

Back

Partnerships

Front

Written approval to establish a corporation; includes name, address, and purpose.

Back

Charter