Economics chapter 8 Starting a new business – Flashcards
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Entrepreneur
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A person who starts his or her own business
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small business Incubator
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aid business in your area
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inventory
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suppy of items that are useed in your business
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receipts
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the money income you've recieved from customers, and you will have your profit
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relevant
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important
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generate
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make,produce
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documents
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record
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startups
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New small businesses
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sole proprietorship
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a business own by one person
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proprietor
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is a owner of a business
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unlimited partnership
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complete legal responsibility for all debts and damages arising from doing business.
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assets
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ITEMS OF VALUE
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partnership
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TWO OR MORE INDIVIDUAL OWN AND OPERATE A BUSINESS
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limited partnership
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NOT ALL OF THE PARTNERS ARE EQUAL
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limited liability company
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BUSINESS STRUCTURES THAT CREATE BENEFITS FOR BUSINESS PERSON
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joint venture
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temporary partnership
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potential
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possible
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temporary
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inpermanent; not lasting
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corporation
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organization owned by many people
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stock
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represent ownership rights to a certain portion of futre profits
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limited liability
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One of the major advantages of a corporation
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article of incorporation
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state in which your business is run.
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corporate charter
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a liscene to operate in that state
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common stock
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give investors part ownership in the corporation
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dividend
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a money return
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prefered stock
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do not have voting rights in the company
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by laws
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are a set of rules of how a stock will be sold and dividends paid
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franchise
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is a contract in which a firm
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visible
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able to be seen
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distinct
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different
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annual
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yearly
