Productive Assets - Answer the long-term tangible and intangible assets a firm uses to
generate cash flows
Residual Cash Flows - Answer the cash remaining after a firm has paid operating
expenses and what it owes creditors and in taxes; can be paid to the owners as a cash
dividend or reinvested in the business
information asymmetry - Answer situation in which one party is more informed than
another because of the possession of private information
Capital Structure - Answer a firm's mix of debt and equity financing
Limited Liability - Answer financial responsibility of business owners only for what they
invested in a business
Corporation - Answer a company or group of people authorized to act as a single entity
(legally a person) and recognized as such in law.
, S-Corp - Answer Tax: Flow through
Max of 100 stock holders
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