Ch. 8 vocab Flashcards
(18 cards)
money and other valuables belonging to an individual or business
assets
formal contract to repay borrowed money with interest at fixed intervals
bonds
authorization to start a business issued by the local government
business license
establishment formed to carry on commercial enterprise
business organization
business combination merging more than 3 businesses that make unrelated products
conglomerate
a business org. owned and operated by a group of individuals for their mutual benefit
cooperative
a legal entity owned by individual stockholders
corporation
portion of corporate profits paid out to stockholders
dividend
semi-independent business that pays to a parent company in return for the exclusive right to sell a certain product/service in a given area
franchise
payment other than wages or salaries
fringe benefits
combination of two or more firms competing in the same market with the same good or service
horizontal merger
legally bound obligation to pay debts
liability
large corporation that produces and sells it goods and services throughout the world
multinational corporation
business organization owned by two or more persons who agree on a specific division of responsibilities and profits
partnership
business owned and managed by a single individual
sole proprietorship
certificate of ownership in a corporation
stocks
combination of two or more firms involved in different stages of producing the same goods and services
vertical merger
law in a city or town that designates separate areas for residency and for business
zoning laws
