Business Chapter 3-4

Quasi

- public corporations are owned and operated by the federal, sate, or local government

forms of business ownership from easy to most difficult based on the ease of starting a business? Rank in order

1. Sole Proprietorship 2. partnership 3. corporation

board of directors

A _____ of ______ is elected by the stockholders to oversee the general operation of the corporation

A sole proprietor needs skills in:

Finance, personal management, marketing

leveraged buyout

a _____ is an attempt by employees, management, or a group of investors to purchase an organization primarily through borrowing

liabilities

a general partnership is a partnership that involves a complete sharing in both the management and the unlimited ____ of the debts of the business

horizontal merger

a merger of two firms that sell similar products to the same customer is a _____

horizontal

if two companies that both make water value for plumbing contractors merger, it would be an example of _____ merger

Two main partnerships

limited, general

service

nonprofit corporations focus o providing a _____ rather than earning a profit, but they are not owned by a government enity

3 primary forms of business ownerships

partnership; sole proprietorship; corporation

Acquisition

the purchase of one company by another, usually by buying its stock

Lack of continuity

the term of the business being dependent on the life of the business owner is referred to as?

nonprofit corporation

this tye of corporation focuses on providing a service rather than earning a profit but are not owned by a government enitily

limited partnership

when there is one or more general partners and one or more limited partners the firm si a ____

merger

when two firms join together to form one new company it is called?