Finance
This financial statement shows a company's assets, liabilities, and owner's equity at a specific point in time.
Balance sheet
This marketing element involves determining how much a company will charge for its products.
Pricing
Height and weight are examples of _______ traits
Physical
Instructions that outline how day-to-day tasks should be performed are known as these.
Procedures
An individual who creates, launches, and manages a business venture is known as this.
Entrepreneur
Business expenses that do not vary with changes in sales volume are called ________ expenses
Fixed
The group of consumers most likely to purchase a business’s product is known as this.
Target market
The term "wage" is usually associated with a(n) _______ workforce
Hourly
This management function involves directing employees to complete tasks that help the organization reach its goals.
Leading (management functions are: planning, leading, organizing, controlling, staffing)
The initial summary found at the beginning of a business plan is called this.
Executive summary
Money set aside for a specific future expense—like a vacation or emergency—is commonly called this.
Savings
The process of dividing a market into smaller groups of similar customers.
When a hotel guest calls the front desk to request extra pillows, they are contacting this hotel department.
Housekeeping
A short, written message sent within a company to share information with employees is known as this.
Memo
What type of ownership gives one person full control of the business?
Sole proprietorship
This document lists every purchase made with a credit card during a billing cycle and shows the total amount owed.
Credit card statement
The path a product takes from producer to final consumer is known as this.
Channel of distribution
Theme parks, museums, and national parks are all examples of this type of tourism attraction.
Recrational attractions
What does the acronym CEO stand for?
Chief Executive Officer
The term used for a business' unique edge over competitors
Competitive advantage
A business borrowed $50,000 at 6% interest to purchase inventory last year and $50,000 at 7.5% interest to purchase inventory this year. How much more interest did the business need to pay to purchase inventory this year than it paid last year?
$750
This type of research uses small groups to gather in-depth opinions about a product or concept.
Focus group
This type of tourism focuses on minimizing environmental harm while supporting local communities and cultures.
Sustainable/Eco tourism
What term refers to the shared beliefs, values, and behaviors within an organization?
Organizational culture
The money someone invests in a business in exchange for part ownership is called this.
Equity