Entre Chap 7
Operating a physical location?
What is Brink and Mortar?
Ideas or opinions about beautfy
What is Aesthetics
Area from which a business expects to get most of its customers.
What is Trade Area?
Ability of a person to legally enter into a binding agreement
What is Capacity
a proposal to provide a service or good
What is an Offer
Link that distributes a product from the supplier to the consumer.
What is Supply Chain?
Cost to to remodel existing interior space for a new business
What is Tenant Improvement
Business contracts that are legally binding are called.
What is enforceable by law?
Types of expenses that remain the same every month
What is Fixed Expenses?
Raising money for a business by exchange a percent of ownership
What is Equity Financing
An example of a business law that deals health and Safety.
What is OSHA - Occupational Safety and Health Adminstration
Physical arrangement of a business
What is Layout
A scale drawing showing how overall business space in a building.
What is Floor Plan?
Business debts expected to be paid within one year
What are short term liabilities
Initial expenses necessary to open the doors of a business
What is start up costs
A disadvantage of a home based business?
What is requires more focus?
A civil wrong, as opposed to a criminal wrong
What is Tort
Use of intellectual property without permission is considered
What is Infringement?
Items that cannot be sold quickly
What is illiquid assets
One business grants a line of credit to another business for purchase of goods and services
What is Trade Credit
Law that governs relationship between an owner and an agent?
What is Agency Law?
Expenses that can change on a monthly basis
What is variable expenses
The purpose of a product recall
What is remove an unsafe product from the market?
Lists assets, liability, and owners equity
Who is Proforma Balance Sheet
The five C's of banking are
What is a Character, Cash Flow (capacity), Capital, Collateral, Condition