What is used in making ethical business decisions?Systematic ApproachWhat is a 5 step checklist that identifies the most efficient means of generating consistent and optimal results?A systematic approachWhat are the steps of a systematic approach?Inquiry
Discussion
Decision
Justification
Evaluation(Systematic Approach)
Step one is inquiry which involves?Identify parties involved
Collect facts
List any applicable legal or ethical principlesWho is one that initiates and sines the financial rush of a new business enterprise and undertakes to provide or control its management?EntrepreneurWhat means to be held legally responsible?LiableWhat is the simplest form of business organization, in which the owner is the business, the owner reports business income on his or her personal income tax return and is legally responsible for all debts and obligations incurred by the business?Sole ProprietorshipWho is the owner of a business?ProprietorWhat means that someone who uses you can receive money out of your personal assets, like personal bank accounts, your home, or your vehicles?Personally LiableWhat are things of value owned by an individual or household?Personal AssetsWhat is a business entity that passes the income on to the owners of the business and avoids double taxation?Pass-Through EntityWhat is an arrangement in which the owner of intellectual property licenses others to use it in the selling of goods or services?FranchiseWhat specifies the terms and conditions of the franchise and the rights and duties of the franchisor and franchisee?Franchise Contract(Franchise Contract)
Who is the seller of the franchise?Franchisor(Franchise Contract)
Who is the purchaser of a franchise?FranchiseeTypes of Franchises are:Distributorship, Manufacturing Arrangement, and Chain-Style Business OperationIn a ______________ a manufacturer (the franchisor) licenses a dealer (the franchisee) to see its product.DistributorshipWhat is permit to own or use something?LicenseIn a _________________ the franchisor transmit to the franchisee the formula to make a particular product.Manufacturing ArrangementIn a __________________ the franchise operates under a franchisor's trade name, and the franchisee must follow standardized methods of operationsChain-Style Business OperationWhat is a name by which something is known in a particular trade?Trade NameWhat is arrangement in which the owner of intellectual property licenses others to use it in the selling of goods or services?FranchiseWhat is property resulting from the intellectual, creative processes?Intellectual PropertyWhat is symbol, word, or words that represent a company of product?TrademarkWhat is name by which something is known in a particular trade?Trade NameWhat is a permit to own or use something?LicenseFranchise that just sells the product isDistributorshipFranchise that creates the product isManufacturing agreementFranchise that creates and sell the product isChain Style Business Operation
