An Association of Businesses That Are Jointly Owned and Operated

question 30

Multiple Choice

An association of businesses that are jointly owned and operated by members for mutual benefit is a:

• A) condominium.
• B) corporation.
• C) cooperative.
• D) joint tenancy.

---

Definitions:

Market Price

The contemporary selling or buying price for an asset or service in the marketplace.

Earnings Per Share

A financial ratio calculated as a company's net income divided by the number of outstanding shares of its common stock.

Par Value

Par value is the nominal or face value of a bond, stock, or coupon as indicated on a certificate or instrument, often used in the legal capital of a corporation.

Net Income

The amount of earnings left over after all expenses, including taxes and costs of goods sold, have been deducted from total revenue.