Chapter 6 Vocabulary PPT
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Transcript of Chapter 6 Vocabulary PPT
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Chapter 6 Vocabulary
By Daniela Lopez
Period 2
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Corporation
Definition: a business ownedby a group of people and
authorized by the state in
which it is located to act as
though it were a single
person, separate from itsowners.
Example: Walmart.
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Charter
Definition: The official documentthrough which a state grants the
power to operate as a corporation.
Example: None available.
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Stockholders
Definition: Owners of a corporation.
Example: Dustin Moskovitz (Facebook
shareholder).
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Shares
Definition: Equal parts of the division of ownecorporation.
Example: None available.
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Dividends
Definition: Dividends are profits thatare distributed to stockholders on a
per-share basis.
Example: When a corporation earns a
profit or surplus, it can either reinvest
it in the business (called retained
earnings), or it can distribute it to
shareholders.
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Board of directors
Definition: The ruling body of the corporation
Example: The Facebook, Inc. Board of Directo
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Officers
Definition: The top executives who are hired tmanage the business.
Example: A president, a secretary, and a treas
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Capital stock
Definition: The general term applied to the shownership of a corporation.
Example: The example written in the textboo
about 3 business partners (York, Burton, and C
They asked the state they lived in for authoriz
issue a million dollars in capital stock.
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Proxy
Definition: A written authorization for someonvote on behalf of the person signing the proxy
Example:
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Close corporation
Definition: One that does not offer its shares ofor public sale.
Example: York, Burton, and Chan, Inc., is an e
of a close corporation. The three former partn
all the stock and operate the business as well.
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Open corporation
Definition: One that offers its shares of stock public sale.
Example: Facebook, Inc.
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Prospectus
Definition: A formal summary of the chief featthe business and its stock offering.
Example:
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Joint venture
Definition: An agreement among two or more
businesses to work together to provide a good
service.
Example: Sony Ericsson.
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Virtual corporation
Definition: A network of companies that form alliances
among themselves as needed to take advantage of fast-changing market conditions.
Example: Nike, the worlds largest athletic shoe and
sports apparel company, is a virtual corporation. Nike
manufactures and markets its products worldwide. A large
network of Asian companies purchase materials andmanufacture shoes and other apparel products in
countries such as China, Taiwan, Indonesia, and Korea.
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Non-profit corporation
Definition:An organization that does not pay t
does not exist to make a profit.
Example: Organizations that manage cities or
schools are examples of nonprofit corporation
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Quasi-public corporation
Definition: A business that is important to soci
lacks the profit potential to attract private inv
often operated by local, state, or federal gove
Government financial support (called a subsidy
also be required. This type of business is usual
described as a quasi-public corporation. Example: The Tennessee Valley Authority.
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Cooperative
Definition: A business owned and operated by
members for the purpose of supplying themse
goods and services.
Example: Organic Meadow Cooperative.