Business Organizations Quiz

An establishment formed to carry on commercial enterprise.

A business owned and managed by a single individual.

Authorization to start a business issued by the local government.

<p>Laws in a city or town that designate certain areas for residential and business use.</p> Signup and view all the answers

<p>The legally bound obligation to pay debts.</p> Signup and view all the answers

<p>Payment other than wages or salaries.</p> Signup and view all the answers

<p>A business organization owned by two or more persons who agree on a specific division of responsibilities and profits.</p> Signup and view all the answers

<p>Partnership in which partners share equally in both responsibility and liability.</p> Signup and view all the answers

<p>Partnership in which only one partner is required to be a general partner.</p> Signup and view all the answers

<p>All partners are limited partners and not responsible for the debts and other liabilities of other partners.</p> Signup and view all the answers

<p>A partnership agreement.</p> Signup and view all the answers

<p>Act ordering common ownership interests, profit and loss sharing, and shared management responsibilities in a partnership.</p> Signup and view all the answers

<p>Money and other valuables belonging to an individual or business.</p> Signup and view all the answers

<p>A legal entity owned by individual stockholders.</p> Signup and view all the answers

<p>A certificate of ownership in a corporation.</p> Signup and view all the answers

<p>Corporation that issues stock to only a few people, often family members.</p> Signup and view all the answers

<p>Corporation that sells stock on the open market.</p> Signup and view all the answers

<p>A formal contract to repay borrowed money with interest at fixed intervals.</p> Signup and view all the answers

<p>License to form a corporation issued by state government.</p> Signup and view all the answers

<p>The portion of corporate profits paid out to stockholders.</p> Signup and view all the answers

<p>The combination of two or more firms competing in the same market with the same good or service.</p> Signup and view all the answers

<p>The combination of two or more firms involved in different stages of producing the same good or service.</p> Signup and view all the answers

<p>Business combination merging more than three businesses that make unrelated products.</p> Signup and view all the answers

<p>Large corporation that produces and sells its goods and services throughout the world.</p> Signup and view all the answers

<p>A semi-independent business that pays fees to a parent company in return for the exclusive right to sell a certain product or service in a given area.</p> Signup and view all the answers

<p>Share of earnings given as payment.</p> Signup and view all the answers

<p>A business organization owned and operated by a group of individuals for their mutual benefit.</p> Signup and view all the answers

<p>Retail outlet owned and operated by consumers.</p> Signup and view all the answers

<p>Cooperative that provides a service, rather than a good.</p> Signup and view all the answers

<p>Agricultural marketing cooperative that helps members sell their products.</p> Signup and view all the answers

<p>Institution that functions much like a business, but does not operate for the purpose of generating profits.</p> Signup and view all the answers

<p>Nonprofit organization that works to improve the image, working conditions, and skill levels of people in particular occupations.</p> Signup and view all the answers

<p>Nonprofit organization that promotes collective business interests for a city, state, or other geographical area, or for a group of similar businesses.</p> Signup and view all the answers

<p>Nonprofit organizations that promote the interests of a particular industry.</p> Signup and view all the answers