Across
- 3. a report showing a business’s sales, expenses, net income, and cash flows for a period of time, such as three months or a year
- 4. stockholder dividends are taxed twice
- 7. a combination of two or more businesses to form a single firm
- 8. represents basic ownership of a corporation
- 9. a business owned and run by a single individual.
- 12. the owner is personally and fully responsible for all losses and debts of the business
- 14. the funds left over after all of the firm’s expenses, including taxes, are subtracted from its sales
- 16. at least one partner is not active in the daily running of the business
- 17. a stock of finished goods and parts in reserve
- 18. a written promise to repay the amount borrowed at a later date
- 19. investors that stocks are sold to
- 20. a government document that gives permission to create a corporation
- 21. a noncash charge the firm takes for the general wear and tear on its capital goods
- 22. form of business organization recognized by law as a separate legal entity with all the rights of an individual
- 23. represents nonvoting ownership shares of the corporation
Down
- 1. the firm legally ceases to exist when the owner dies, quits, or sells the business
- 2. usually drawn up to specify arrangements between partners
- 5. amount of money borrowed
- 6. all partners are responsible for the management and financial obligations of the business
- 8. the sum of net income and noncash charges, such as depreciation
- 10. the price paid for the use of another’s money
- 11. a business that is jointly owned by two or more persons
- 13. takes place when firms that produce the same kind of product join forces
- 15. a check that transfers a portion of the corporate earnings
- 24. ownership certificates in the firm