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BM 101 ( MIDTERM ) Flashcards

(47 cards)

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1
Q

What are the 3 Major types of Business Owners?

A
  1. Sole Proprietorship
  2. Partnership
    3.Corporation
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2
Q

2 MINOR TYPES CONSIST OF THE JOINT STOCK COMPANY?

A
  1. Joint Venture
  2. Business trust
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2
Q

Legal Assocation of two or more persons as co-owners of an unincorporated business?

A

Partnership

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2
Q

Type of business operated by a single person?

A

Sole Proprietorship

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3
Q

Two types of Partnerships?

A
  1. General Partnership
  2. Limited Partnership
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3
Q

Is an enterprise chartered by law, with most of the legal rights of a person.

A

Corporation

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3
Q

Owners of Corporations

A

Stockholders

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4
Q

The authority granted to corporation to sell its own share of stock?

A

Ease of Expansion

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5
Q

If a stockholder loses interest in the corporation partly owns, he may disassociate himself

A

Ease of Transferring Ownership

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6
Q

The profits derived by stockholders are taxed twice by the government?

A

Double Taxation

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7
Q

Modifications of the Corporate form of Ownership?

A
  1. Cooperatives
  2. Mutual Companies
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8
Q

An organization composed of individuals or businesses that have banded together

A

Corporation

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9
Q

Two Types of Cooperatives?

A
  1. Credit Union
  2. Producers Cooperative
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10
Q

It accepts deposits from the members and lends money

A

Credit Union

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11
Q

Its purpose is to actually assist one another in the procurement

A

Producers cooperative

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12
Q

Its purpose is to provide members with quality goods and services at reasonable price

A

Consumers Cooperative

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12
Q

Its purpose is to assist members in the marketing of their produce

A

Marketing Cooperative

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13
Q

Its purpose is to make services readily available and at a lower price

A

Service Cooperative

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14
Q

It is a Financial service Firm?

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A

Mutual Company

15
Q

Two types of mutual Companies

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A
  1. MUTUAL SAVING BANKS
  2. MUTUAL INSURANCE COMPANY
16
Q

Owned by depositors?

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A

Mutual Saving Banks

17
Q

Owned by its policyholders?

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A

Mutual Insurance Company

18
Q

Other forms of Business Organizations

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A
  1. Joint Stock Company
  2. Joint Venture
  3. Business Trust
19
Q

Form of Business Enterprise in which the capital is divided into small units

Study These Flashcards
A

Joint Stock Company

20
A particular partnership established for a specific undertaking and bringing together several partners
Joint Venture
21
A trustee is appointed to manage the business
Business Trust
22
Refers to the study of morals and moral choices of human beings
ETHICS
23
When ethics training courses are carefully designed and administered
ETHICS TRAINING
24
A person who is knowledgeable about business ethics
ETHICAL ADVOCATES
25
Codes of Ethics are document
ETHICAL CODES
26
It is an act that will reveal private or classified information about an organization
WHISTLE BLOWING
27
REFERS TO THE CONCERN OF BUSINESS FOR THE WELFARE OF THE SOCIETY
SOCIAL RESPONSIBILITY
28
Constitute a very important group which must be handled with some degree of responsibility
CONSUMERS
29
Employees have the right to live their own private lives without interference
The Right to privacy
30
Such as AETAS, IGOROTS AND DUMAGATS
Minority Groups
31
Employees must be assured of security of tenure
The right to job security
31
Constitute a potential force to make business progressive
Women
32
Regarded as Senior Citizen
Older people
33
Group of people that contribute positively to the firm
Handicapped
34
Responsible persons to monitor and recommend appropriate actions
Community at Large
35
Company allows the condition or potential problem to go unresolved
REACTION STRATEGY
36
Company tried to minimize or avoid additional obligations
DEFENSE STRATEGY
37
Business assumes responsibility for its actions
ACCOMODATION STRATEGY
38
Firm goes beyond what is legally and ethically required
Proactive Strategy
39
Refers to the systematic examination of all the activities
SOCIAL AUDITS
40
41

BM 101 (2 decks)

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