Business Fundamentals Ch 4 Terms

Front

What is the top governing body of a corporation, whose members are elected by the stockholders?

Back

Board of directors

Front

Which type of corporation has its stock owned by relatively few people and is not sold to the general public?

Back

Closed corporation

Front

What is the most basic form of corporate ownership that allows owners to vote on corporate policies?

Back

Common stock

Front

Stock owned by individuals or firms who usually do not have voting rights but whose claims on dividends are paid first.

Back

Preferred stock

Front

Who are the top executives appointed by the board of directors in a corporation?

Back

Corporate officers

Front

What do you call a person who assumes full or shared responsibility for operating a business?

Back

General partner

Front

What do you call a person who invests money in a business but has no management responsibility or liability for losses beyond the amount they invested in the partnership?

Back

Limited partner

Front

What is a corporation called when it is created by law with most of the legal rights of a real person?

Back

Corporation

Front

What is the term for a distribution of earnings to the stockholders of a corporation?

Back

Dividend

Front

A corporation in any state in which it does business except the one in which it is incorporated.

Back

Foreign corporation