Business Org. 1
The full process needed to create a product or service is called?
Value Chain
Being held accountable and obligated to fulfill a commitment
Liability
Which type of business structure has the most personal liability?
sole proprietorship
What does a wholesale distributor do?
Bulk items for low price
Realtor
In a value chain, the activity of receiving supplies, storing products, and managing inventory?
Logistics
What should someone do if they want to protect its company's logo and name.
Trademark
When two or more people decide to open a business together, this is known as what type of business structure?
Partnership
A corporation with special tax status for the owners is which type of business?
S corporation
What is the name of the basketball team in Phoenix?
Suns
When someone is starting their own business in their neighborhood. Where should they go to obtain a business license and permits?
county courthouse
The system used for monitoring the amount of inventory you have in stock is called?
Inventory Control
When someone starts a business all by themselves, it is what type of business structure?
Sole proprietor
When someone works at a large company and reports to one manager. What type of organizational structure is this company?
Hierarchical
Who is the Vice President of the United States?
Mike Pence
When someone wants to start an online business and not use their real name. What type of form will they need to complete when opening a business?
DBA (doing business as)
First in, First out means what when a company is trying to sell its product.
Method of selling fresh, living items.
When someone works for a very large company that sells stocks to shareholders. This is an advantage for which type of business structure?
Corporation
When someone would like to start a business with a popular fast food company. He agrees to pay a fee and royalties. This is an example of which type of business?
Franchise
how many more units do we have left?
3
This form of record keeping shows the assets, debts, and equity in the company on a certain date.
Balance sheet
What does LEAD TIME mean to a business owner?
Giving yourself enough time to get ordered products shipped in.
A hybrid between a corporation and a partnership is known as what?
LLC (Limited Liability Corporation)
The self-checkout line to purchase items at the retail store is an example of which of what?
Point of Sale
What is the password for the Unit 9 Test?
Password