Exam4 - Flashcards(2) - The flashcards are formatted for...

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Corporation Corporation
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Fewer in number than sole proprietorships, but generate the most business of any organizational form. Largest sales volume; largest in terms of overall value of the business.
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Privately Held Corporation
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May be privately or publically held. Employee-owned corporation (i.e. law firms); can’t buy stake; much more common.
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Common and Preferred Publicly Held
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Shares of corporation are publically traded; can buy ownership; typically conduct the largest volume of business. Two types of stock:
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Chairperson of the Board Common Stockholders
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Elect board of directors, their only management power. Also CEO (appoint themselves).
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1. Vote 2. Dividends 3. Liquidation 4. Preemptio n 1.Stockholders 2. Board of Directors 3. Chairperson of the Board 4. President
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Organization of a corporation: Stockholders’ rights:
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“Capital” Common; Preferred
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Only ____ stockholders can vote, not ____. One general account for stockholders’ equity for sole proprietorships and partnerships.
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Paid-in-Capital Paid-in-Capital and Retained Earnings
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Two parts of owners’ equity of a corporation: i.e. contributed capital
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Retained Earnings Paid-in-Capital
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Amount of equity the stockholders (i.e. owners) have initially invested in the business. The cumulative total of earnings earned by the business not given back to stockholders.
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Increase; decrease Dividends
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Paid out of retained earnings. Retained earnings ____ by net income and ____ by dividends and losses.
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Shares Issued Shares Authorized
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of stock a business is allowed to issue; limited by its charter and/or state regulation. The number of shares
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Exam4 - Flashcards(2) - The flashcards are formatted for...

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