Definitions
Define a non-profit organization
An organization that operates for purposes other than making money.
What is a budget
A plan with an amount of money you plan to spend on something
Define professionalism
The skills of being professional.
What is an income statement
Document that shows a company’s profit and expenses
Define an “entrepreneur.”
Someone who takes a risk to start a business
What is marketing
Advertising to people to get them to buy your product
Define a business plan
Document setting future plans for a business.
What is a premium as it relates to insurance
Regular payment for insurance coverage.
Define a logo
A company's emblem
What is a franchise
A business that agrees for other people to own and operate one of its locations
Define credit unions
A member owned company that has financial services, they are not-for-profit
What is a balance sheet
A financial statement that shows a company’s assets, liabilities, and equity at a point.
Define Stockholders
An individual who owns shares in a company
What is the accounting equation?
Assets=Liabilities + Owners equity
Define a business permit
A legal document from a government agency that gives permission for a business to operate in a specific area
What are the four management functions
Planning, organizing, leading and controlling
Define a deductible
Amount of money paid out of pocket
What are the three credit bureaus?
Equifax, Experian, TransUnion
Define employability skills
The skills needed to be employed by a company. Ex: Communication, Writing, Etc.
What is business insurance
Insurance that protects business from financial loss