Organizations and Ownership
A business owned by one person.
What is Sole Proprietorship?
Who you are trying to sell products or services to.
What is target market?
The moral principles and standards that guide behavior in the business world, focusing on applying moral reasoning.
What is ethics?
A plan for using or saving your money.
What is a budget?
Partial ownership of a company that may be purchased.
What is a stock?
When one company is the only one providing a good or service.
What is a monopoly?
A way of classifying people based on age, gender, race, etc. to better meet their needs.
What is demographics?
The type of law that deals with breaking of civil codes. May be a misdemeanor or a felony.
What is criminal law?
Assets - Liabilities.
What is net worth?
A bank may put this on a property until the loan on that property is paid off.
What is a lien?
A business that is owned by many stockholders.
What is a corporation?
The 4 p's of Marketing
What are price, product, place, and promotion?
The person who initiates a civil suit.
What is a plaintiff?
Assets = Liabilities + Owner's Equity
What is the Accounting Equation?
Establishes national minimum wage, overtime pay, recordkeeping, and youth employment standards.
What is the Fair Labor Standards Act? (FLSA)
A business that is owned by the people who use the business. Business decisions are made democratically.
What is a co-op?
A name, term, design, symbol, or a combination of these that identifies and differentiates the goods or services of one seller from those of competitors
What is a brand?
The type of law created by a legislative body, such as Congress.
What is statutory law?
The two main categories in a business budget. (I and E)
What are income and expenses?
Ad hominem, straw man, false dilemma, and slippery slope are examples of these.
What are logical fallacies?
A partner in a business who provides money, but does not make business decisions.
What is a silent partner?
The process of collecting and analyzing data from various sources to gain insights and support marketing decision-making.
What is market research?
The standard of proof in a civil lawsuit.
What is preponderance of evidence?
The framework of guidelines and rules that direct how financial statements are prepared and presented in the United States
What is GAAP (Generally Accepted Accounting Principles)?
The part of a business plan that comes first, but is typically written last.
What is an executive summary?