Mr. Farshtey's Classroom
NAME: EconomicsBUSINESS ORGANIZATIONS Worksheet Sole Proprietorships: Definition –Advantages – Disadvantages – How to start one and get out of one – Partnerships: 2 kinds, general and limited; what is the difference? – Definition –Advantages – Disadvantages – How to start one and get out of one – Corporations: Definition –Advantages – Disadvantages – How to start one and get out of one – BRIEFLY DEFINE the following terms:Limited liabilityUnlimited liabilityLimited lifeUnlimited lifeCharterStock (common vs. preferred)Stockholder/shareholderIPOCorporate StructureBondDouble taxationAssetsReinvestmentIncome statement (gross income vs. net income)DepreciationCash flow (positive / negative)Merger (horizontal / vertical)ConglomerateMultinationalNonprofit organization CooperativeCredit unionLabor unionCollective bargainingProfessional associationChamber of CommerceBetter Business BureauPublic utilities ................
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