Business & Non-Profit Terms
What is a non-profit organization?
This type of organization operates for a cause rather than for profit.
What is the accounting equation?
This equation shows the relationship between a company's assets, liabilities, and equity.
What are Plan, Organize, Lead, and Control?
These are the four main functions of management.
What are Equifax, Experian, and TransUnion?
These three companies are the major credit bureaus.
What is strategic planning?
This is a long-term goal-setting process for a business to ensure growth and success.
What is an entrepreneur?
This person starts and runs a business, often assuming financial risks.
What is a budget?
This is the income versus expenses plan for a business or individual.
What is an organizational chart?
This chart shows the structure of a company, including the roles and relationships between employees.
What is FDIC (Federal Deposit Insurance Corporation)?
This government agency insures bank deposits up to a certain limit.
What is an organizational chart?
This chart is used to define the structure and roles within a company.
What is the Small Business Administration (SBA)?
This U.S. agency helps small businesses with funding, counseling, and other resources.
What is an income statement?
This type of statement shows the company’s profit or loss over a certain period.
What is an executive summary?
This is the overview of a business plan that summarizes the goals, objectives, and strategies of the company.
What are paying on time and reducing debt?
These are two ways a person can improve their FICO score.
What is a business plan?
This document outlines a company's mission, vision, and strategies for achieving its goals.
What is a franchise?
This is a licensed business model where a person or company allows others to operate using its name and products.
What is a balance sheet?
This is a snapshot of a company’s finances at a specific point in time, showing assets, liabilities, and equity.
What is strategic planning?
This is long-term goal setting for a business to ensure growth and success.
What are credit unions?
This is a member-owned financial institution that provides services like banks, such as savings and loans.
What is project planning?
This type of planning is done for a specific project or initiative, typically involving budgeting and timeline setting.
What is a logo?
This is a brand symbol used to identify a company or product.
What is accounts receivable?
This type of account shows the money owed to a business by its customers.
What is management?
This is the process of allocating resources to achieve a business’s goals and making adjustments as necessary.
What is a bank?
This type of financial institution is regulated by the government and ensures the safety of deposits.
What is an executive summary?
This is a business document summarizing key elements like the market, competition, and business objectives.