IBT Terms #3

the amount an insured pays on a claim before the insurer pays the remainder

a precise statement of results the business expects to achieve

also known as owner's equity, indicates the value of a company to its owners

the ability to adjust to different situations

an accounting entry that either increases an asset account or decreases a liability account

the company will repair, replace, or provide a refund if the product breaks

a financial tool that provides information about a company's past performance

someone who takes a risk in starting a business to earn a profit

leadership style in which members of the group take a more participative role in decisions

the effort to direct and lead people to accomplish the planned work of the organization

the process of starting, organizing, managing, and assuming responsibility for a business

an accounting entry that either increases an asset or decreases a liability

a time during which you can pay your credit card bill without paying finance charges

the money you spend for food, utilities, and other things

tendency to put forth high energy into achieving goals

a formal record of the financial activities of a business

sign the back of a check that has been made payable to you before you deposit it

a designed change that increases the usefulness of a product, service, or process

a financial institution that is owned and controlled by the people who use its services

determining the best ways for customers to locate, obtain, and use the products of a company