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Chapter 3: Business Organizations

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3.voluntary association formed to carry out some kind of economic activity that will benefit its members
5.owner is personally and fully responsible for all losses and debts of the business
7.noncash charge the firm takes for the general wear and tear on its capital goods
9.financial organization that accepts deposits from and makes loans to employees of a particular company or government agency
11.business owned and run by a single individual
13.written promise to repay the amount borrowed at a later date
14.combination of two or more businesses to form a single firm
16.investors that own part of a company
17.stock of finished goods and parts in reserve
18.government document that gives permission to create a corporation
24.nonprofit organization sponsored by local businesses
25.negotiates with management over issues such as pay, working hours, health care coverage, vacations, and other job related matters
28.corporation that has manufacturing or service operations in a number of different countries
30.ownership certificate
32.report showing a business's sales, expenses, net income, and cash flows for a period of time
33.price paid for the use of another's money
34.firms that produce the same kind of product join forces
35.municipal or investor-owned companies that offer products such as water, sewage, and electric service to the public
1.business that is jointly owned by two or more persons
2.people in a specialized occupation interested in improving the working conditions, skill levels, and public perception of the profession
4.amount borrowed for a bond
6.at least one partner is not active in the daily running of the business
8.firm legally ceases to exist when the owner dies, quits, or sells the business
10.funds left over after all of the firm's expenses, including taxes, are subtracted from its sales
12.nonvoting ownership shares of a corporation
15.works in a businesslike way to promote the collective interests of its members rather than seek financial gain for its owners
18.organization that promotes promotes the welfare of its member businesses
19.all partners are equally responsible for the management and financial obligations of the business
20.basic ownership in a coprporation
21.stockholder dividends are taxed twice
22.organization of workers formed to represent its members' interests in various employment matters
23.companies involved in different stages of manufacturing or marketing join together
26.firm that has at least 4 businesses
27.form of business organization recognized by law as a separate legal entity with all the rights of an individual
29.sum of net income and noncash charges
31.check that transfers a portion of corporate earnings to each stockholder

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