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RSM100 Chapter 5 with 100% correct answers | verified | latest updated 2024
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RSM100 Chapter 5 with 100% correct answers | verified | latest updated 2024
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RSM100Chapter
5
acquisition
-
ANS-an
agreement
in
which
one
firm
purchases
another
board
of
directors
-
ANS-the
governing
body
of
a
corporation
BDC
(Business
Development
Bank
of
Canada)
-
ANS-a
governmental
agency
that
assists,
counsels,
and
protects
the
interests
of
small
businesses
in
Canada
Business
Incubator
-
ANS-a
local
program
designed
to
provide
low-cost,
shared
business
facilities
to
small
startup
companies
Business
Plan
-
ANS-a
formal
document
that
details
a
company's
goals,
methods,
and
standards.
Common
shares
-
ANS-shares
that
give
owners
voting
rights
but
only
residual
claims
to
the
firm's
assets
and
income
distributions.
conglomerate
merger
-
ANS-a
merger
that
combines
unrelated
firms
usually
with
the
goal
of
diversification,
increasing
sales,
or
spending
a
cash
surplus
to
avoid
a
takeover
attempt.
corporation
-
ANS-a
legal
organization
with
assets
and
liabilities
separate
from
the
assets
and
liabilities
of
its
owners.
franchisee
-
ANS-the
individual
or
business
firm
purchasing
a
franchise.
franchising
-
ANS--
a
contract-based
business
arrangement
between
a
manufacturer
or
other
supplier
and
a
dealer ,
such
as
a
restaurant
operator
or
retailer
-combines
large
and
small
businesses
into
a
single
entity
and
is
a
major
factor
in
the
growth
of
small
businesses
franchisor
-
ANS-the
firm
whose
products
are
sold
to
customers
by
the
franchisee.
home-based
business
-
ANS-firms
operated
from
the
residence
of
the
business
owner .
horizontal
merger
-
ANS-a
merger
that
joins
firms
in
the
same
industry
for
the
purpose
of
diversification,
increasing
customer
bases,
cutting
costs,
or
expanding
product
lines. joint
venture
-
ANS-a
partnership
between
companies
for
a
specific
activity .
merger
-
ANS-an
agreement
in
which
two
or
more
firms
combine
to
form
one
company .
not-for-profit
corporations
-
ANS-organizations
whose
goals
do
not
include
pursuing
a
profit.
partnership
-
ANS-an
association
of
two
or
more
persons
who
operate
a
business
as
co-owners
by
voluntary
legal
agreement.
preferred
shares
-
ANS-shares
that
give
owners
limited
voting
rights
and
the
right
to
receive
dividends
or
assets
before
owners
of
common
shares.
Shareholders
-
ANS-owners
of
a
corporation
as
a
result
of
their
purchase
of
shares
in
the
corporation.
small
business
-
ANS-an
independent
business
with
fewer
than
100
employees
and
revenues
less
than
$2
million
that
is
not
dominant
in
its
market.
sole
proprietorship
-
ANS-a
business
ownership
structure
in
which
the
sole
proprietor's
status
as
an
individual
is
not
legally
separate
from
his
or
her
status
as
a
business
owner .
venture
capital
-
ANS-money
invested
in
a
business
by
another
business
or
a
group
of
individuals
in
return
for
an
ownership
share.
vertical
merger
-
ANS-a
merger
that
combines
firms
operating
at
different
levels
in
the
production
and
marketing
process.
Describe
the
characteristics
of
a
small
business.
-
ANS-A
small
business
is
an
independently
owned
business
that
has
fewer
than
100
employees
and
revenues
less
than
$2
million.
A
small
business
is
not
usually
the
leading
business
in
its
field.
It
meets
industry-specific
size
standards
for
income
or
number
of
employees.
A
business
is
classified
as
large
when
its
number
of
employees
or
revenue
exceeds
these
standards.
How
does
Industry
Canada
define
small
business?
-
ANS-Industry
Canada
defines
a
small
business
as
an
independent
business
that
has
fewer
than
100
employees
and
revenues
not
more
than
$2
million.
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