Business Basics
This term refers to the money a business owes to its suppliers or creditors.
Accounts Payable
Refers to the possibility of loss when you invest in a Business.
What does CEO stand for?
Collegiate Entrepreneurs Organization
What does "P" in the "4 Ps of Marketing" stand for?
The 4 Ps are Product, Price, Place, and Promotion
What is the term for a business structure where the owner is personally liable for the business's debts and obligations?
Sole Proprietorship
Who is in charge of the McCoy Student Success Center?
Dr. Terrance McClain
What does ROI stand for?
Return on Investment
What does FMA stand for?
Financial Management Association
Which social media platform is primarily known for short, 280-character posts?
A company whose shares are not traded over stock exchange.
privately held company
The the item or items a business offers for sale.
Product
Revenue - Expenses =
Net Income
What does AMA stand for?
American Marketing Association
What is the term for a symbol or design that represents a company or product?
What is a Logo
What is the term for a legal entity that is separate and distinct from its owners, providing limited liability to its shareholders?
Corporation
Who is the Dean of Students at McCoy College of Business?
Dr.Sanjay Ramchander
Costs of running a business (does not include the sale of items)
Operating costs or Operating Expenses
What does ITSA stand for?
Information Technology Students of America
What do we call the group of people a company aims its products or services at?
Target Audience
What is the term for a business structure that combines elements of a corporation and a partnership, providing limited liability to its members and allowing for pass-through taxation?
limited liability company (LLC)
What is the economic term for a situation in which there is a consistent rise in the general price level of goods and services over time?
inflation
What does GAAP stand for?
Generally Accepted Accounting Principles
What does MCA stand for?
McCoy College Ambassadors
What color is commonly used in marketing to represent freshness and nature?
Green
In a hierarchical organizational structure, what is the term for the level of management directly below the executive team?
middle management