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Definition
| Business owned by a single individual |
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Term
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Definition
| legal condition under which any damages or debts attributable to the business can also be attached to the owner because the two have no separate legal existence |
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Definition
| unincorporated business owned and operated by two or more persons under a voluntary legal association |
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Definition
| partnership in which all partners have the right to participate as co-owners and are individually liable for the business’s debts |
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Definition
| partnership composed of one or more general partners and one or more partners whose liability is usually limited to the amount of capital investment |
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Definition
| legally chartered enterprise having most of the legal rights of a person, including the right to conduct business, the right to own and sell property, to borrow money, and to sue or be sued |
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Definition
| owners of a corporation who own stock |
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Definition
| document that proves stock ownership |
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Definition
| shares whose owners have voting rights and have the lat claim on distributed profits and assets |
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Definition
| distributions of corporate assets to shareholders in the form of cash or other assets |
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Definition
| shares that give their owners first claim on a company’s dividends and assets after paying all debts |
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Term
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Definition
| (also referred to as closed corporations or closely held companies) company owned by private individuals or companies |
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Definition
| corporation that actively sells stock on the open market |
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Term
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Definition
| the level of ease with which an asset can be converted to cash |
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Term
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Definition
| corporation with no more than 75 shareholders that may be taxed as a partnership; also known as subchapter S corporation |
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Term
| Limited Liability Companies |
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Definition
| organizations that combine the benefits of S corporations and limited partnerships without the drawback of either |
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Term
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Definition
| corporations whose stock is owned entirely or almost entirely by another corporation (parent company) |
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Definition
| company that owns most, if not all, of another company’s stock and that takes an active part in managing that other company |
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Term
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Definition
| in a broad sense, describes the policies, procedures, relationships, and systems in place to oversee the successful and legal operation of the enterprise; in a narrow sense, describes the responsibilities and performance of the board of directors |
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Term
| Chief executive officer (CEO) |
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Definition
| person appointed by a corporation’s board of directors to carry out the board’s policies and supervise the activities of the corporation |
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Term
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Definition
| document authorizing another person to vote on behalf of a shareholder in a corporation |
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Term
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Definition
| group of people, elected by the shareholders, who have the ultimate authority in guiding the affairs of a corporation |
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Definition
| combination of two companies in which one company purchases the other and assumes control of its property and liabilities |
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Term
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Definition
| combination of two or more companies in which the old companies cease to exist and a new enterprise is created |
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Definition
| form of business combination in which one company buys another company’s voting stock |
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Term
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Definition
| situations in which an outside party buys enough stock in a corporation to tale control against the wishes of the board of directors and corporate officers |
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Term
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Definition
| situation in which individuals or groups of investors purchase companies primarily with debt secured by the company’s assets |
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