Business Essentials- Final Exam

12 terms by maddiehetzel5

Create a new folder

Advertisement Upgrade to remove ads

A business owned and controlled by two or more people who have entered into a written agreement is

Corporation

A short, specific written statement of the reason a businesss exsits and what it want to accomplish is a

Mission Statment

One who has no explict or implicit contract for long-term employment is

Contingent Worker

Descriptions of the way work is to be done is
a(n)

Procedure

A specific statement of results the business excepts to achieve is

Goals

A written legal document that identifies ownership and operating procedures and conditions for the business is

Articles of Incorporation

A business owned and controlled by just one person is called a

Proprietorship

A diagram that shows the struture of an organization, classifacation of jobs, and the relationships among those classifacations is known as

Organizational Chart

Someone who has advanced math training and calculates the risks based on loss percentages and determines insurance rates and premiums

Actuary

A representative of an insurance compant who sells insurance contracts (policies) and provides customer services. He/she must be licensed by the state in which the policy is sold

Agent

A person named in a life insurance policy as the recipient of the insurance money in the event of the insured person's death.

Beneficiary

The contract or agreement made between the insurer and the insured.

Policy

Please allow access to your computer’s microphone to use Voice Recording.

Having trouble? Click here for help.

We can’t access your microphone!

Click the icon above to update your browser permissions above and try again

Example:

Reload the page to try again!

Reload

Press Cmd-0 to reset your zoom

Press Ctrl-0 to reset your zoom

It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.

Please upgrade Flash or install Chrome
to use Voice Recording.

For more help, see our troubleshooting page.

Your microphone is muted

For help fixing this issue, see this FAQ.

Star this term

You can study starred terms together

NEW! Voice Recording

Create Set