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13 Cards in this Set
- Front
- Back
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entrepreneur |
someone who organizes and then runs a business |
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start-up costs |
the expenses involved in going into business |
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lease |
a contract to use something for a specified period of time |
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goodwill |
the loyalty of existing customers |
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market outlook |
the potential for future sells |
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franchise |
the legal right to sell a company's goods and services in a particular area |
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sole proprietorship |
a business completely owned by one person |
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partnership |
a legal arrangement in which two or more people share ownership |
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corporation |
a business, chartered by a state, that legally operates apart from the owners |
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income statement |
a summary of your business's income and expenses during a specific period, such as a month, a quarter, or a year |
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revenue |
income from sales |
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gross profit |
the difference between the cost of goods and their selling price |
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net profit |
the amount left after operating expenses are subtracted from the gross profit |
