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11 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Business |
Is an organization or enterprising entity engaged in commercial, industrial and professional activities. |
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Non-profit Organization |
It operates to fulfill charitable missions or for social cause. |
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Ethics |
It is the discipline corcerned with what is morally good or bad or morally right or wrong. |
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Service Business |
It provides intangible products. It offers professional skills, expertise, advice and etc |
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Merchandising Business |
Buys product at wholesale price and sells the same at retail price. |
Also known as "buy and sell" business |
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Manufacturing Business |
It buys product with the intention of using it as a material in making a new product. |
There is a transformation of the products purchased. |
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Hybrid Business |
It is the business that is classified in more than one type of business. |
Example is a restaurant. |
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Sole Proprietorship |
A business owned by only one person. |
It is easy to set-up and is the least costly in all forms of business |
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Partnership |
A business owned by two or more person. |
The partners divide the profit of the business among themselves. |
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Corporation |
It is an artificial being created by the operation of law. It has the right of succession and the power, attributes and properties expressly authorized by the law or incident of its existence. |
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Cooperative |
It is owned by a group of individuals and is operated for their mutual benefits. |
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