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20 Cards in this Set
- Front
- Back
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entrepreneur
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person who organizes, manages and assumes the risks of a buisness in order to gain profits
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startup
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a begining buisness entrepreneur
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small buisness incubator
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government funded agency that assists new buisnesses by providing advice or low rent building and supplies
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inventory
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extra supply of the items used in the buisness, such as raw materials or goods and services
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receipts
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income received from the sale of goods and/or services
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sole proprietorship
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one manager
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unlimited liability
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requirement that the owner of a buisness is personally and fully responcible for all losses and debts of a buisness
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assets
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all items to which a buisness or household hold legal claim
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partnerships
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two or more individuals managing a buisness
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limited partnerships
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special form of partners have lilited liability but no voice in mangement
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joint venture
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partnerships set up for a set time for a specific reason
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corporation
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a buisness managed by many people but treated like a person, taxes, property and so on
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stock
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share of ownership in the coroperation that entitles the buyer to a certain of the future profits and assets of the corporation
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limited liability
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requirement in which an owner's responcibility for a company's depts is limited to the size of the owners's investment in the firm
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articles of incorporation
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documents listing basic information about a corporation that is filed with the state where the corporation will be headquarted
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coroporate charter
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lisence to operate granted to a corporation by the state where it is established
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common stock
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shares of ownership in a corporation that stockholders voting rights and a portion of preferred stock
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dividend
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portion of the corporation's profits paid to its stockholders
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preferred stock
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shares od ownership in a corporation that give stockholders a portion of future profits, but no voting rights
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franchise
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contract where one buisness sells to another buisness the right to use the franchiser's name and it's products
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