enFIChapter 4 Review16
Advertising Fees : are fees paid to support television, magazines and other such methods of advertising
Board of Directors : a group of people who meet to make important decisions for the company
Business Brokers : a person who sells businesses for a living
Corporation : business with legal rights of a person and which may be owned by many people
Dividends : distributions of profits to shareholders by corporation
Franchise : a legal agreement that gives an individual the right to market a company's product or service
Incoporate
Initial Franchise Fee : is a fee a franchise owner pays in return for the right to run the franchise
Liability : is the amount owed to other
Partnership : business owned by two or more people
Royalty Fees : are weekly or monthly payments made by the owner of the franchise to the seller of the franchise
Sole Proprietorship : business owned by one person
Start Up Cost : cost associated with beginning a business
Share of Stock : Is a unit of ownership in a corporation
S corporation : corporation organized under sub chapter S that elects to be treated as a pass-through entity (like a sole proprietorship or partnership) for tax purposes.
Valuator : expert on determining a value of a business
Chapter 4 Review
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a group of people who meet to make important decisions for the company
a legal agreement that gives an individual the right to market a company's product or service
a person who sells businesses for a living
are fees paid to support television, magazines and other such methods of advertising
are weekly or monthly payments made by the owner of the franchise to the seller of the franchise
business owned by one person
business owned by two or more people
business with legal rights of a person and which may be owned by many people
corporation organized under sub chapter S that elects to be treated as a pass-through entity (like a sole proprietorship or partnership) for tax purposes.
cost associated with beginning a business
distributions of profits to shareholders by corporation
expert on determining a value of a business
Incoporate
is a fee a franchise owner pays in return for the right to run the franchise