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  /Title (b200-ch-4-5.pdf)
  /Creator (Cheatography)
  /Author (o1510)
  /Subject (B200 Ch 4-5 Cheat Sheet)
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    \vspace{-2pt}\large{\bf{\textcolor{DarkBackground}{\textrm{B200 Ch 4-5 Cheat Sheet}}}} \\
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  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Cheat Sheet}}  \\
   \vspace{-2pt}Not Yet Published.\\
   Updated 18th February, 2017.\\
   Page {\thepage} of \pageref{LastPage}.
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Chapter 4}}  \tn
% Row 0
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\mymulticolumn{2}{x{5.377cm}}{Nascent Entrepreneurs: people who are trying to start a business from scratch} \tn 
% Row Count 2 (+ 2)
% Row 1
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\mymulticolumn{2}{x{5.377cm}}{Small Business: an independently owned and managed business that does not dominate its market} \tn 
% Row Count 4 (+ 2)
% Row 2
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\mymulticolumn{2}{x{5.377cm}}{New Venture: recently formed (less than 12 months) commercial org. that provides g+s} \tn 
% Row Count 6 (+ 2)
% Row 3
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\mymulticolumn{2}{x{5.377cm}}{Entrepreneurship: a business person} \tn 
% Row Count 7 (+ 1)
% Row 4
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\mymulticolumn{2}{x{5.377cm}}{Entrepreneur: a business person who accepts both the risks and opportunities involved in creating and operating a new business venture} \tn 
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% Row 5
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\mymulticolumn{2}{x{5.377cm}}{Intrapreneurs: people who create something new within an existing large firm/org.} \tn 
% Row Count 12 (+ 2)
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Chapter 4 LO4}}  \tn
% Row 0
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\mymulticolumn{2}{x{5.377cm}}{Franchising Agreement: duties/responsibilities of franchisee/er} \tn 
% Row Count 2 (+ 2)
% Row 1
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\mymulticolumn{2}{x{5.377cm}}{Sole Proprietorship} \tn 
% Row Count 3 (+ 1)
% Row 2
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 & Individual ownership \tn 
% Row Count 4 (+ 1)
% Row 3
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 & Unlimited liability: creditors can go after personal assets \tn 
% Row Count 6 (+ 2)
% Row 4
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 & Tax: profits and losses part of owners taxable situation \tn 
% Row Count 8 (+ 2)
% Row 5
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{General Partnership} \tn 
% Row Count 9 (+ 1)
% Row 6
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 & 2+ partners, unlimited liability \tn 
% Row Count 10 (+ 1)
% Row 7
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 & each partner must claim income/loss on their personal income tax \tn 
% Row Count 12 (+ 2)
% Row 8
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\mymulticolumn{2}{x{5.377cm}}{Limited Partnership} \tn 
% Row Count 13 (+ 1)
% Row 9
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 & 1+ general, 1+ limited partners \tn 
% Row Count 14 (+ 1)
% Row 10
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 & General: unlimited, Limited: liability limited to their investments \tn 
% Row Count 16 (+ 2)
% Row 11
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 & All partners claim tax according to their share in the company, same income status \tn 
% Row Count 19 (+ 3)
% Row 12
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\mymulticolumn{2}{x{5.377cm}}{Corporation} \tn 
% Row Count 20 (+ 1)
% Row 13
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 & Exists until terminated by act of shareholders \tn 
% Row Count 22 (+ 2)
% Row 14
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 & Ownership: Fictional person, shareholders equity \tn 
% Row Count 24 (+ 2)
% Row 15
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 & Liability: limited to corporation, can be sued \tn 
% Row Count 26 (+ 2)
% Row 16
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 & Taxable entity, has own income status \tn 
% Row Count 28 (+ 2)
% Row 17
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\mymulticolumn{2}{x{5.377cm}}{Trust} \tn 
% Row Count 29 (+ 1)
% Row 18
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 & Ownership: someone other than owners name on title \tn 
% Row Count 31 (+ 2)
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Chapter 4 LO4 (cont)}}  \tn
% Row 19
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 & Liability: depends on status \tn 
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% Row 20
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 & Profits/losses passed onto whose name its in \tn 
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Chapter 5 Key Terms}}  \tn
% Row 0
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\mymulticolumn{2}{x{5.377cm}}{Protectionism: protecting domestic business at the expense of free market competition} \tn 
% Row Count 2 (+ 2)
% Row 1
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% Row 2
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% Row 3
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\mymulticolumn{2}{x{5.377cm}}{Cartel: any assoc. of producers whose purpose it is to control supply/prices for product} \tn 
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% Row 4
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\mymulticolumn{2}{x{5.377cm}}{Dumping: selling product for less abroad than in producing nation} \tn 
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% Row 5
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% Row 6
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 & int. trade agreement to encourage multilateral reduction or elimination of trade barriers \tn 
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% Row 7
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% Row 8
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% Row 9
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% Row 10
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 & gradually eliminate tariffs/barriers among US, CAD, MEX \tn 
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Chapter 4: Fit}}  \tn
% Row 0
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\mymulticolumn{2}{x{5.377cm}}{The Entrepreneur - Opportunity fit} \tn 
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% Row 1
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 & Is the opportunity something the ent. wants to take on? \tn 
% Row Count 3 (+ 2)
% Row 2
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 & Realistic self assessment (big five) \tn 
% Row Count 4 (+ 1)
% Row 3
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\mymulticolumn{2}{x{5.377cm}}{Opportunity-Resources Fit} \tn 
% Row Count 5 (+ 1)
% Row 4
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 & Resources needed to capitalize on the opportunity can be acquired \tn 
% Row Count 7 (+ 2)
% Row 5
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\mymulticolumn{2}{x{5.377cm}}{Entrepreneur-Resources Fit} \tn 
% Row Count 8 (+ 1)
% Row 6
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 & Does the ent. have the capacity to meet requirements \tn 
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\hhline{>{\arrayrulecolor{DarkBackground}}--}
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Chapter 4 LO2 LO3}}  \tn
% Row 0
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\mymulticolumn{2}{x{5.377cm}}{Private Sector: the part of teh economy that is made up of companies and orgs that are not owned/controlled by govt.} \tn 
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% Row 1
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\mymulticolumn{2}{x{5.377cm}}{Entrepreneurs must identify an opportunity and access resources} \tn 
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% Row 2
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\mymulticolumn{2}{x{5.377cm}}{Sales Forecast: an estimate of how much a product or service will be purchased by prospective customers over a specific period} \tn 
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% Row 3
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 & an idea must: create value, competitive advantage, low exit costs, marketable and financially viable \tn 
% Row Count 11 (+ 3)
% Row 4
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\mymulticolumn{2}{x{5.377cm}}{Franchise: an arrangement that gives franchisees (buyers) the right to sell to product of franchiser} \tn 
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% Row 5
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\mymulticolumn{2}{x{5.377cm}}{Business Plan: document in which entrepreneur summarizes their business strategy for proposed venture + implementation} \tn 
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% Row 6
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{Bootstrapping: doing more with less} \tn 
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% Row 7
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{Collateral: assets that a borrower uses to secure a loan/credit and that are subject to seizure by lender if the loan isn't repaid according to the specified terms} \tn 
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% Row 8
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\mymulticolumn{2}{x{5.377cm}}{Incubators: facilities that support small businesses during their early growth phase by providing basic services/space/advice} \tn 
% Row Count 24 (+ 3)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Chapter 5: Key Terms}}  \tn
% Row 0
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\mymulticolumn{2}{x{5.377cm}}{Globalization: process by which the world economy is becoming a single interdependent system} \tn 
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% Row 1
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\mymulticolumn{2}{x{5.377cm}}{Import: product made or grown abroad} \tn 
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% Row 2
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% Row 3
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\mymulticolumn{2}{x{5.377cm}}{Per-Capita Income: the average income per person of a country} \tn 
% Row Count 7 (+ 2)
% Row 4
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\mymulticolumn{2}{x{5.377cm}}{BRIC: four powerful emerging markets Brazil Russia India China} \tn 
% Row Count 9 (+ 2)
% Row 5
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{Absolute Advantage: ability to produce something more efficiently than any other country} \tn 
% Row Count 11 (+ 2)
% Row 6
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\mymulticolumn{2}{x{5.377cm}}{Comparative Advantage: ability to produce some products more efficiently than others} \tn 
% Row Count 13 (+ 2)
% Row 7
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{National Competitive Advantage: International competitive advantage stemming from a combination of factors:} \tn 
% Row Count 16 (+ 3)
% Row 8
\SetRowColor{LightBackground}
 & demand conditions; related/supporting industry; firm strategy, structures, rivalry \tn 
% Row Count 19 (+ 3)
% Row 9
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{International Competitiveness: competitive marketing of domestic products against foreign products} \tn 
% Row Count 21 (+ 2)
% Row 10
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{Balance of Trade: the economic value of all the products that a country exports - value of imported products} \tn 
% Row Count 24 (+ 3)
% Row 11
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\mymulticolumn{2}{x{5.377cm}}{Surplus: a country's imports\textgreater{}exports (positive balance of trade)} \tn 
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% Row 12
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\mymulticolumn{2}{x{5.377cm}}{Deficit: imports\textless{}exports (negative balance of trade)} \tn 
% Row Count 28 (+ 2)
% Row 13
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\mymulticolumn{2}{x{5.377cm}}{Balance of Payments: flow of all money into/out of country} \tn 
% Row Count 30 (+ 2)
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Chapter 5: Key Terms (cont)}}  \tn
% Row 14
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\mymulticolumn{2}{x{5.377cm}}{Exchange Rate: rate at which currency of one nation can be exchanged for currency of another} \tn 
% Row Count 2 (+ 2)
% Row 15
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\mymulticolumn{2}{x{5.377cm}}{Exporter: firm that distributes and sells products to one or more foreign countries} \tn 
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% Row 16
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\mymulticolumn{2}{x{5.377cm}}{Importer: firm that buys products in foreign markets and then} \tn 
% Row Count 6 (+ 2)
% Row 17
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\mymulticolumn{2}{x{5.377cm}}{International Firm: conducts a significant portion of its business in foreign countries} \tn 
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% Row 18
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\mymulticolumn{2}{x{5.377cm}}{Multinational Firm: connected to many nations} \tn 
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% Row 19
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\mymulticolumn{2}{x{5.377cm}}{Independent Agent: firms choose foreign individual to manufacture/market products in another country} \tn 
% Row Count 11 (+ 2)
% Row 20
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\mymulticolumn{2}{x{5.377cm}}{Royalties: fees to exporter for another country manufacturing their product} \tn 
% Row Count 13 (+ 2)
% Row 21
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\mymulticolumn{2}{x{5.377cm}}{World Product Mandating: multinational product responsibility to branch} \tn 
% Row Count 15 (+ 2)
% Row 22
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\mymulticolumn{2}{x{5.377cm}}{Foreign Direct Investment (FDI): buying/establishing tangible assets in another country} \tn 
% Row Count 17 (+ 2)
% Row 23
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{Foreign Investment Review Agency: est. 1973 to screen foreign invest. to CAN} \tn 
% Row Count 19 (+ 2)
% Row 24
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\mymulticolumn{2}{x{5.377cm}}{Quota: restriction by one nation on total products of type that can be imported} \tn 
% Row Count 21 (+ 2)
% Row 25
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\mymulticolumn{2}{x{5.377cm}}{Embargo: gov't order forbidding exports/imports of a particular product} \tn 
% Row Count 23 (+ 2)
% Row 26
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\mymulticolumn{2}{x{5.377cm}}{Tariff: tax levied on imported products} \tn 
% Row Count 24 (+ 1)
% Row 27
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\mymulticolumn{2}{x{5.377cm}}{Revenue Tariff: imposed solely to raise money for government that imposes it} \tn 
% Row Count 26 (+ 2)
% Row 28
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\mymulticolumn{2}{x{5.377cm}}{Subsidy: government payment to help domestic business compete with foreign firms} \tn 
% Row Count 28 (+ 2)
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Chapter 4: LO4}}  \tn
% Row 0
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\mymulticolumn{2}{x{5.377cm}}{Stockholders: investors who buy shares of ownership in stock} \tn 
% Row Count 2 (+ 2)
% Row 1
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\mymulticolumn{2}{x{5.377cm}}{Board of Directors: group of individuals elected by a firm's shareholders and charged with overseeing, and taking legal responsibility for the firm's actions} \tn 
% Row Count 6 (+ 4)
% Row 2
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\mymulticolumn{2}{x{5.377cm}}{Inside Directors: members of a corporations BoD who are also full-time employees} \tn 
% Row Count 8 (+ 2)
% Row 3
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{Outside Directors: members of a corp. board of directors who are not also employees of the corp. on a day-to-day basis} \tn 
% Row Count 11 (+ 3)
% Row 4
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\mymulticolumn{2}{x{5.377cm}}{CEO: highest ranking executive in a company/org} \tn 
% Row Count 12 (+ 1)
% Row 5
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{Public Corporation: business whose stock is widely held by a small group of individuals, not usually available for sale} \tn 
% Row Count 15 (+ 3)
% Row 6
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{Private Corporation: business whose stock is held by a small group of individuals and not available for sale} \tn 
% Row Count 18 (+ 3)
% Row 7
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{Initial Public Offering (IPO): selling shares of stock in a company for the first time to the public} \tn 
% Row Count 20 (+ 2)
% Row 8
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{Private Equity Firms: companies that buy publicly traded companies and then make them private} \tn 
% Row Count 22 (+ 2)
% Row 9
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{Income Trust: structure allowing companies to avoid paying corp. inc. tax if they distribute all/most earnings to investors} \tn 
% Row Count 25 (+ 3)
% Row 10
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{Limited Liability: investor liability is limited to personal investments in the corp.} \tn 
% Row Count 27 (+ 2)
% Row 11
\SetRowColor{white}
 & courts cannot go after personal assets of investors in the event corp. goes bankrupt \tn 
% Row Count 30 (+ 3)
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Chapter 4: LO4 (cont)}}  \tn
% Row 12
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\mymulticolumn{2}{x{5.377cm}}{Stock: a share of ownership in a corp.} \tn 
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% Row 13
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\mymulticolumn{2}{x{5.377cm}}{Double Taxation: a corp. must pay income taxes on its profits, then shareholders pay personal income tax on dividends from corp.} \tn 
% Row Count 4 (+ 3)
% Row 14
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\mymulticolumn{2}{x{5.377cm}}{Dividends: the amount of money, normally portion of profit, that is distributed to shareholders} \tn 
% Row Count 6 (+ 2)
% Row 15
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\mymulticolumn{2}{x{5.377cm}}{Co-operative: org. that is formed to benefit its owners in the form of reduced prices and/or distribution of surpluses at year end} \tn 
% Row Count 9 (+ 3)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}


% That's all folks
\end{multicols*}

\end{document}