Business Organizations

7. usually drawn up to specify arrangements between partners.
9. Firm with four or more businesses making unrelated products
11. disadvantage of a partnership
13. Promise to pay a stated rate of interest over a stated period of time, and to repay the full amount borrowed at the end of that time.
15. Check that transfers a portion of the company profits to stockholders, usually quarterly.
16. Person who makes the decision to start a business
19. Liability If the business fails, no personal possessions can be taken to cover debts;
20. partners are _______ because all they do is contribute money or property
21. Are the last to be paid with whatever money is left after paying all creditors.
23. Stock of finished goods and parts held in reserve

1. A government document that gives permission to create a corporation. Must have articles of incorporation for charter to be approved.
2. Such as paid vacations, insurance, sick days
3. Corporation producing and selling without regard to national boundaries
4. Owner is personally responsible for all losses and debts of the business
5. Biggest advantage of a sole proprietorship
6. investors that buy the stock
8. Certificate of ownership in a corporation
10. Business owned and run by one person
12. Document listing basic information about a corporation that is filed with the state where the corporation will be headquartered.
14. Using your savings to earn more money
17. life Company can continue to exist even if the ownership changes
18. Pay a fixed dividend
22. Is an organization recognized by law as a separate legal entity with all the rights of an individual