Eco - Ch.8 Voc. Flashcard

Front

A business that is owned and operated by one person, where the owner is personally responsible for all debts and obligations.

Back

Sole proprietorship

Front

A business owned by two or more individuals who share profits, responsibilities, and liabilities.

Back

Partnership

Front

A partnership where all partners share equal responsibility and liability for the business.

Back

General partnership

Front

A type of partnership where some partners have limited liability and limited involvement in the business.

Back

Limited partnership

Front

A business entity recognized by law as separate from its owners, with rights and responsibilities like an individual.

Back

Corporation

Front

A legal document that establishes a corporation, outlining its name, purpose, and governance.

Back

Charter

Front

Individuals or entities that own shares in a corporation.

Back

Stockholders

Front

A portion of a corporation's earnings distributed to shareholders.

Back

Dividend

Front

A type of stock that grants voting rights and represents ownership in a company.

Back

Common stock

Front

A type of stock that typically doesn’t provide voting rights but has a fixed dividend.

Back

Preferred stock