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100
A group of people who meet several times a year to make important decisions affecting the company
What is Board of directors
100
A person who sells businesses for a living
What is Business broker
100
A document that describes all the steps necessary in opening and operating a successful business
What is Business plan
100
A business with the legal rights of a person, and which may be owned by many people
What is Corporation
100
A letter that explains or provides more information about a document or set of documents
What is Cover letter
200
Distributions of profit to shareholders by corporations
What is Dividends
200
A legal agreement that gives an individual the right to market a company's products or services in a particular area
What is Franchise
200
To set a business up as a corporation
What is Incorporate?
200
A fee the franchise owner pays in return for the right to run the franchise
What is Initial franchise fee
200
A business owned by two or more people
What is Partnership
300
Financial statements based on projections
What is Pro forma financial statements
300
Weekly or monthly payments made by the owner of the franchise to the seller of the franchise
What is Royalty fees
300
A unit of ownership in a corporation
What is Share of stock
300
A business owned exclusively by one person
What is Sole Proprietorship
300
A business owned exclusively by one person
What is Sole proprietorship
400
One-time only expenses that are paid to establish a business
What is Start-up costs
400
Organizations that promote certain types of businesses
What is Trade associations
400
Do not have to share profits with anyone.
What is Sole Proprietor
400
You buy an already established business. You don't have to start from Scratch
What is Advantage of Franchise
400
Stockholders have the majority say so, if they own 51% of the company.
What is Disadvantage of Corporation
500
To provide layout, goals and the mission of a business.
What is The purpose of a business Plan
500
Profits and resources have to be shared with someone else.
What is disadvantage of Partnership
500
Small Business Administration, Minority Business Administration, Local Governments and Associations
What is Resources for a business.
500
The private ownership of resources by individuals rather than by the government
What is Capitalism
500
Weekly or monthly payments made by the owner of the franchise to the seller of the franchise
What is Royalty Fees
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