enviroments of business
Business Operation
Forms of Business Organization
Accounting System
Making Business Decisions
100
Profit
What is the ammount of money earned over and above the amount spemt to keep the business operating
100
Capital
What is money supplied by investors, banks, or owners of a business
100
Sole Proprietorship
What is a business owned by one person
100
Accounting System
What is designed to collect, document, and report on financial transactions affecting the business
100
Financial Accounting
What focuses pn reporting information to external users
200
Loss
What is it when the business spends more money than they earn
200
Service Business
What is something that provides a needed service for a fee
200
Partnership
What is a business owned by two or more persons
200
Manual Accounting System
What is the accounting information that is processed by hand
200
Management Accounting
What focuses on reporting information to management
300
free enterprise system
What are people who are free to prodce the goods and services they choose
300
Merchandising Business
What buys finished products and resells them to individuals or other businesses
300
Corperation
What is a business organization that is recognized by law to have life of its own
300
Computerized accounting system
What is the financial information that is recorded by entering it into a computer
300
Business Entity
What exists independently of its owners personal holding
400
entrepreneurs
What transforms ideas for products or services into real world businesses
400
Manufacturing Businesses
What buys raw materials, such aswood or iron ore, and transforms them into finished products through the use of labor and capital
400
Charter
What gives a corperation certain rights
400
GAAP
What is Generally Accepted Accounting Principals
400
Accounting period
What is a period of time covered by an accounting report
500
Inventors
What creates ideas for new products and services
500
Manufacturing businesses
What ranges from a ship builder
500
Sole propietorship, partnership, or corperation
What businesses share common financial characteristis and methods for recording an dreporting financial changes
500
Financial Reports
What are summerized information about the financial status of a business
500
Going Concern
What is a business that is expected to continue
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