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Study sets matching "principles of business 5"

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Study sets matching "principles of business 5"

34 terms
Principles of Business, Chapter 5
Accountability
Articles of incorporation
Authority
Baby boomers
taking responsibility for the results achieved.
a written legal document that defines ownership and operating…
the right to make decisions about how responsibilities should…
people born between 1946 and 1964.
Accountability
taking responsibility for the results achieved.
Articles of incorporation
a written legal document that defines ownership and operating…
14 terms
Principles of Business- Chapter 5
Articles of Incorporation
Contingent Worker
Corporation
Franchise
a written legal document that defines ownership and operating…
one who has no explicit or implicit contract for long-term em…
a separate legal entity formed by documents filed with a stat…
the company that owns the product or service and grants the r…
Articles of Incorporation
a written legal document that defines ownership and operating…
Contingent Worker
one who has no explicit or implicit contract for long-term em…
34 terms
Principles of Business, Chapter 5
Accountability
Articles of incorporation
Authority
Baby boomers
taking responsibility for the results achieved.
a written legal document that defines ownership and operating…
the right to make decisions about how responsibilities should…
people born between 1946 and 1964.
Accountability
taking responsibility for the results achieved.
Articles of incorporation
a written legal document that defines ownership and operating…
25 terms
Principles of Business, Chapter 5
Articles of incorporation
Board of directors
Corporate bylaws
Corporation
a written legal document filed with the state to establish a…
the people who make the major policy and financial decisions…
the operating procedures for shareholders, directors and offi…
owned by one or more shareholders and managed by a board of d…
Articles of incorporation
a written legal document filed with the state to establish a…
Board of directors
the people who make the major policy and financial decisions…
15 terms
Principles of Business 5.03
Social Responsibility
Raw-goods producers
producers
manufacturers
The duty of a business to contribute to the well-being of soc…
A type of producer that provides goods in their natural state
The people who make or provide goods and services
A type of producer that changes the shapes or forms of materi…
Social Responsibility
The duty of a business to contribute to the well-being of soc…
Raw-goods producers
A type of producer that provides goods in their natural state
35 terms
Principles of Business, Chapter 5
Accountability
Articles of incorporation
Authority
Baby boomers
taking responsibility for the results achieved.
a written legal document that defines ownership and operating…
the right to make decisions about how responsibilities should…
people born between 1946 and 1964.
Accountability
taking responsibility for the results achieved.
Articles of incorporation
a written legal document that defines ownership and operating…
18 terms
Principles of Business 5.01
Credit
Charge account
Travel and Entertainment Credit Card
Retail Store Credit Cards
An agreement to obtain money, goods or services now in exchan…
A contract between creditors and debtors that allows debtors…
A credit card that is useful to keep a detailed record of spe…
A credit card that can only be used at the store where the ca…
Credit
An agreement to obtain money, goods or services now in exchan…
Charge account
A contract between creditors and debtors that allows debtors…
35 terms
5.01 Principles of Business
Credit
Charge Account
Credit cards
Installment credit
is an agreement to obtain money, goods or services now in exc…
is a contract between creditors and debtors. ___________ allo…
allow debtors (customers) to receive goods and services from…
is a contract issued by the seller that requires intermittent…
Credit
is an agreement to obtain money, goods or services now in exc…
Charge Account
is a contract between creditors and debtors. ___________ allo…
18 terms
Principles of Business 5.01
Credit
Charge account
Travel and Entertainment Credit Card
Retail Store Credit Cards
An agreement to obtain money, goods or services now in exchan…
A contract between creditors and debtors that allows debtors…
A credit card that is useful to keep a detailed record of spe…
A credit card that can only be used at the store where the ca…
Credit
An agreement to obtain money, goods or services now in exchan…
Charge account
A contract between creditors and debtors that allows debtors…
13 terms
Principles of Business 5.02
Risk
Risk Management
Economic Risk
Non-economic Risk
The possibility of incurring a loss.
A systematic process of managing risk to achieve set objectiv…
A risk that can result in financial loss.
A risk that may result in embarrassment or inconvenience with…
Risk
The possibility of incurring a loss.
Risk Management
A systematic process of managing risk to achieve set objectiv…
18 terms
Principles of Business 5.01
Credit
Charge account
Travel and Entertainment Credit Card
Retail Store Credit Cards
An agreement to obtain money, goods or services now in exchan…
A contract between creditors and debtors that allows debtors…
A credit card that is useful to keep a detailed record of spe…
A credit card that can only be used at the store where the ca…
Credit
An agreement to obtain money, goods or services now in exchan…
Charge account
A contract between creditors and debtors that allows debtors…
13 terms
Principles of Business
Scarcity
Controlled Economy
Free Economy
Mixed Economy
the result of unlimited wants and needs combined with limited…
an economic system where the government attempts to own and c…
an economic system in which resources are owned by individual…
an economic system in which some goods and services are provi…
Scarcity
the result of unlimited wants and needs combined with limited…
Controlled Economy
an economic system where the government attempts to own and c…
9 terms
Principles of business 5.01
Trade credit-
Loan Credit-
Sales credit-
Finance charge-
An arrangement to buy goods or services on account, that is,…
borrowing money to be used later for special purposes.
credit used to purchase goods and services.
the total dollar amount you pay to use credit.
Trade credit-
An arrangement to buy goods or services on account, that is,…
Loan Credit-
borrowing money to be used later for special purposes.
24 terms
Principles of Business - Quiz #5
Monopoly
Price Discrimination
False Advertising
Bankruptcy
Exists when competition is lacking for a product or service,…
Setting different prices for different customers
Misleading in a material respect
Legal process that allows selling assets to pay off debts
Monopoly
Exists when competition is lacking for a product or service,…
Price Discrimination
Setting different prices for different customers
34 terms
Principles of Business, Chapter 5
Accountability
Articles of incorporation
Authority
Baby boomers
taking responsibility for the results achieved.
a written legal document that defines ownership and operating…
the right to make decisions about how responsibilities should…
people born between 1946 and 1964.
Accountability
taking responsibility for the results achieved.
Articles of incorporation
a written legal document that defines ownership and operating…
49 terms
5.02 Vocabulary Principles of Business
Risk
Economic Risk
Personal Risk
Property Risk
the possibility of incurring a loss.
risk that can result in economic loss.
result in personal losses such as health and personal well be…
loss of personal or business property including money, vehicl…
Risk
the possibility of incurring a loss.
Economic Risk
risk that can result in economic loss.
15 terms
Principles of Business Vocab 5
Marketing
Retailers
Wholesalers
Buying
the process of planning and executing the conception, pricing…
businesses that sell directly to final consumers
businesses that buy products from businesses and sell them to…
obtaining goods to be sold
Marketing
the process of planning and executing the conception, pricing…
Retailers
businesses that sell directly to final consumers
14 terms
Principles of Business Ch. 5
Contingent Worker
Intermediaries
Service Business
Proprietorship
one who has no explicit or implicit contract for long-term em…
Businesses involved in selling the goods and services of prod…
Carries out activities that are consumed by its customers.
A business owned and run by just one person.
Contingent Worker
one who has no explicit or implicit contract for long-term em…
Intermediaries
Businesses involved in selling the goods and services of prod…
24 terms
Principles of Business 5
Monopoly
Price discrimination
False advertising
Bankruptcy
This exists when competition is lacking for a product or serv…
Setting different prices for different customers
Misleading in a material respect
Legal process that allows selling assets to pay off debts
Monopoly
This exists when competition is lacking for a product or serv…
Price discrimination
Setting different prices for different customers
24 terms
Principles of Business Vocab 5
monopoly
price discrimination
false advertising
bankruptcy
this exists when competition is lacking for a product or serv…
setting different prices for different customers
misleading in a material respect
a legal process that allows selling assets to pay off debts
monopoly
this exists when competition is lacking for a product or serv…
price discrimination
setting different prices for different customers
30 terms
Principle of Business: Ch. 5
Accountability
Articles of Incorporation
Authority
Bylaws
Taking responsibility for the results achieved
A written legal document that defines ownership and operating…
The right to make decisions about how responsibility should b…
A rule made by a company or society to control the actions of…
Accountability
Taking responsibility for the results achieved
Articles of Incorporation
A written legal document that defines ownership and operating…
14 terms
Chapter 5- Principles of Business
contingent worker
articles of incorporation
corporation
franchise
one who has no explict or implict contract for long-term empl…
a written legal document that identifies ownership and operat…
a separate legal entitiy, formed by state documents and owned…
a written contract granting permission to operate a bussiness…
contingent worker
one who has no explict or implict contract for long-term empl…
articles of incorporation
a written legal document that identifies ownership and operat…
9 terms
Principles of business 5.01
Trade credit-
Loan Credit-
Sales credit-
Finance charge-
An arrangement to buy goods or services on account, that is,…
borrowing money to be used later for special purposes.
credit used to purchase goods and services.
the total dollar amount you pay to use credit.
Trade credit-
An arrangement to buy goods or services on account, that is,…
Loan Credit-
borrowing money to be used later for special purposes.
Principles of Business 5.00
Types of credit
Character
Capacity
Capital
Charge accounts ... Credit cards... Installment credit... Consumer loans
How past debt was handled
How much debt can be comfortably handled
Current assets that could be used to repay debt
Types of credit
Charge accounts ... Credit cards... Installment credit... Consumer loans
Character
How past debt was handled
9 terms
Principles of Business Ch. 5
Affirmation
Body language
Elevator pitch
Network
A statement with a thought picture that says you have already…
Nonverbal communication such as how one sit or stands, facial…
A short speech that can be delivered on the time span of an e…
People who can and will help in one career development
Affirmation
A statement with a thought picture that says you have already…
Body language
Nonverbal communication such as how one sit or stands, facial…
34 terms
Principles of Business, Chapter 5
Accountability
Articles of incorporation
Authority
Baby boomers
taking responsibility for the results achieved.
a written legal document that defines ownership and operating…
the right to make decisions about how responsibilities should…
people born between 1946 and 1964.
Accountability
taking responsibility for the results achieved.
Articles of incorporation
a written legal document that defines ownership and operating…
32 terms
Principles of Business Ch. 5
contingent worker
intermediaries
service business
baby boomers
someone who has no explicit or implicit contract for long ter…
businesses involved in selling the goods and services of prod…
carries out activities that are consumed by consumers
the people born between 1946 and 1964, turned 65
contingent worker
someone who has no explicit or implicit contract for long ter…
intermediaries
businesses involved in selling the goods and services of prod…
14 terms
Business Principles (Chapter 5)
Articles of Incorporation
Contingent Worker
Corporation
Franchise
is a written legal document that defines ownership and operat…
is one who has no explicit or implicit contact for long-term…
is a separate legal entity formed by documents filed with a s…
Is a written contract granting permission to operate a busine…
Articles of Incorporation
is a written legal document that defines ownership and operat…
Contingent Worker
is one who has no explicit or implicit contact for long-term…
21 terms
Principles of Business (l5)
Steps (in order) of the problem solvin…
The problem solving process is
When purchasing a computer
Maintaining a computer
1) define the problem... 2) investigate and analyze the problem…
Not linear
Identify the purpose and test for which the computer will be…
Require maintenance on a regular schedule
Steps (in order) of the problem solvin…
1) define the problem... 2) investigate and analyze the problem…
The problem solving process is
Not linear
38 terms
Principles of Business, Chapter 5
Accountability
Articles of incorporation
Authority
Baby boomers
taking responsibility for the results achieved.
a written legal document that defines ownership and operating…
the right to make decisions about how responsibilities should…
people born between 1946 and 1964.
Accountability
taking responsibility for the results achieved.
Articles of incorporation
a written legal document that defines ownership and operating…
17 terms
Principles of Business Vocab 5
Communication
Feedback
Distraction
Distortion
The sharing of information which results in a high degree of…
A receivers response to a sender's message.
Anything that interferes with the sender creating a deliverin…
Refers to how people consciously or unconsciously change mess…
Communication
The sharing of information which results in a high degree of…
Feedback
A receivers response to a sender's message.
32 terms
Principles of Business, Chapter 5
Accountability
Articles of incorporation
Authority
Baby boomers
taking responsibility for the results achieved.
defines incorporation and operating procedures and conditions…
the right to make decisions about how responsibilities should…
people born between 1946 and 1964.
Accountability
taking responsibility for the results achieved.
Articles of incorporation
defines incorporation and operating procedures and conditions…
9 terms
Principles of Business 5.01
Trade credit-
Loan Credit-
Sales credit-
Finance charge-
An arrangement to buy goods or services on account, that is,…
borrowing money to be used later for special purposes.
credit used to purchase goods and services.
the total dollar amount you pay to use credit.
Trade credit-
An arrangement to buy goods or services on account, that is,…
Loan Credit-
borrowing money to be used later for special purposes.
15 terms
principles of business ch5
SBA
virtual business
small businesses usually employs..
sole proprietorship
US government agency that protects the interest of small busi…
operates in the internet
fewer than 500 people and is limited to a small geographical…
owned and operated by one person
SBA
US government agency that protects the interest of small busi…
virtual business
operates in the internet
25 terms
Principles of Business Unit 5
A person who buys and uses goods or se…
The value of any alternatives that you…
An indication of the quality or size o…
A written statement attached to a prod…
consumers
opportunity cost
grade
label
A person who buys and uses goods or se…
consumers
The value of any alternatives that you…
opportunity cost
25 terms
Principles of Business Unit 5
A person who buys and uses goods or se…
The value of any alternatives that you…
An indication of the quality or size o…
A written statement attached to a prod…
consumers
opportunity cost
grade
label
A person who buys and uses goods or se…
consumers
The value of any alternatives that you…
opportunity cost
33 terms
Chapter 5 principles of business
Accountability
Articles Of Incorporation
Authority
Baby Boomers
taking responsibility for the results achieved
a written legal document that defines ownership and operating…
the tight to make decisions about how responsibilities should…
people born between 1946 and 1964
Accountability
taking responsibility for the results achieved
Articles Of Incorporation
a written legal document that defines ownership and operating…
15 terms
principles of business chapter 5
audri leer
contiguous worker
intermediaries
service business
5 seat #30
is one who has no explicit or implicit contract for long-term…
are business involved in the selling of goods and services of…
carriers out activities that are consumed by its consumers.
audri leer
5 seat #30
contiguous worker
is one who has no explicit or implicit contract for long-term…
Principles of Business - Chapter 5
~Thor Fifer
Contingent Worker
Intermediaries
Service Business
3rd hour; seat #33
One who has no explicit or implicit contract for long-term em…
Businesses involved in selling the goods and services of prod…
Carries out activities that are consumed by its customers.
~Thor Fifer
3rd hour; seat #33
Contingent Worker
One who has no explicit or implicit contract for long-term em…
18 terms
Ch 5 Principles of Business
Partnership
Mission Statement
Congent Worker
Procedures
A business owned and controlled by two or more people who hav…
A short specific written statement of a reason a buisness exi…
Who has no explicit or inplicit contract for long term employ…
Descriptions of the way work is to be done
Partnership
A business owned and controlled by two or more people who hav…
Mission Statement
A short specific written statement of a reason a buisness exi…
Business principles CH5
sole proprietorship
partnership
corporation
unlimited liability
a business that is owned and usually managed by one person
a legal form of business with two or more owners
a legal entity with authority to act and have liability apart…
the responsibility of business owners for all of the debts of…
sole proprietorship
a business that is owned and usually managed by one person
partnership
a legal form of business with two or more owners
36 terms
Principles of Business: Chapter 5
functional organizational structure
matrix organizational structure
organization chart
contingent worker
type of organization, work is arranged within main business f…
work is structured around specific projects, products, or cus…
diagram that shows the structure of an organization, classifi…
one who has no explicit or implicit contract for long-term em…
functional organizational structure
type of organization, work is arranged within main business f…
matrix organizational structure
work is structured around specific projects, products, or cus…
17 terms
Principles of Business: Quiz #5
Communication
Feedback
Distraction
Distortion
Refers to the sharing of information which results in a high…
Receivers response to a sender's message
Anything that interferes with the sender creating or deliveri…
How people consciously or unconsciously change messages
Communication
Refers to the sharing of information which results in a high…
Feedback
Receivers response to a sender's message
54 terms
Business Principles Chapter 5
Six Basic Business Activities
Nonprofit corporation
Functional organizational Structure
Proprietorship
1. Generating ideas... 2. Raising Capital ... 3. Employing and Trai…
This type of corporation does not pay income... -A group of peop…
all people with jobs related to a specific function work toge…
-The most common form of ownership in the united... -A business…
Six Basic Business Activities
1. Generating ideas... 2. Raising Capital ... 3. Employing and Trai…
Nonprofit corporation
This type of corporation does not pay income... -A group of peop…
31 terms
Principles of Business, Chapter 5
Articles of incorporation
Baby boomers
Board of directors
Contingent worker
a written legal document that defines ownership and operating…
people born between 1946 and 1964.
the people who make the major policy and financial decisions…
one who has no explicit or implicit contract for long-term em…
Articles of incorporation
a written legal document that defines ownership and operating…
Baby boomers
people born between 1946 and 1964.
31 terms
Principles of Business, Chapter 5
Articles of incorporation
Baby boomers
Board of directors
Contingent worker
a written legal document that defines ownership and operating…
people born between 1946 and 1964.
the people who make the major policy and financial decisions…
one who has no explicit or implicit contract for long-term em…
Articles of incorporation
a written legal document that defines ownership and operating…
Baby boomers
people born between 1946 and 1964.
35 terms
Principles of Business, Chapter 5
Accountability
Articles of incorporation
Authority
Baby boomers
taking responsibility for the results achieved.
a written legal document that defines ownership and operating…
the right to make decisions about how responsibilities should…
people born between 1946 and 1964.
Accountability
taking responsibility for the results achieved.
Articles of incorporation
a written legal document that defines ownership and operating…
34 terms
Principles of Business, Chapter 5
Accountability
Articles of incorporation
Authority
Baby boomers
taking responsibility for the results achieved.
a written legal document that defines ownership and operating…
the right to make decisions about how responsibilities should…
people born between 1946 and 1964.
Accountability
taking responsibility for the results achieved.
Articles of incorporation
a written legal document that defines ownership and operating…
25 terms
Principles of Business Chapter 5
Small Business
Business Plan
Small Business Administration (SBA)
Microloans
An independent business with fewer than 500 employees. Not do…
written document that provides an orderly statement of a comp…
principal government agency concerned with helping small U.S.…
small- business loans often used to buy equipment or operate…
Small Business
An independent business with fewer than 500 employees. Not do…
Business Plan
written document that provides an orderly statement of a comp…
32 terms
Principles of Business, Chapter 5
Accountability
Articles of incorporation
Authority
Baby boomers
taking responsibility for the results achieved.
a written legal document that defines ownership and operating…
the right to make decisions about how responsibilities should…
people born between 1946 and 1964.
Accountability
taking responsibility for the results achieved.
Articles of incorporation
a written legal document that defines ownership and operating…
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