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General Business Flashcards | StudBud
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General Business
General Business
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General business vocabulary
Flashcards
17 cards
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Questions
17
Answers
1
What is a business owned and controlled by two or more people who have formed an agreement?
Shareholder
Partnership
Corporation
Service Business
2
A written contract giving permission to operate a business and sell products in a set way is?
Partnership Agreement
Corporation
Non-profit
Franchise
3
A business that does not sell products, just services.
A food company
A stock
A service business
A Walmart
4
Legal entity formed by documents filed by the state, made up of one or more shareholders.
Partnership
Stock Market
Proprietorship
Corporation
5
What is a nonprofit?
An insurance agency
A company that makes millions in profit
A company that makes no profit, like the red cross
A company that only sells services
6
The people who sell goods or services to businesses and consumers (may also be shippers).
Intermediaries
Producers
Trades
Proprietors
7
A written agreement among all owners is what?
A Procedure
A Goal
A Policy
A Partnership Agreement
8
What is a policy?
A written contract or agreement among a group
Guidelines used in making consistent decisions.
Descriptions of the way the work is to be done
Precise statement of results the business expects to achieve
9
What is a share holder?
The president of the company
A person who gives money to a company
Creator of the company
A person who owns part of a companies stock.
10
What is Accountability?
Obligation to complete specific job
The right to make decisions
Taking responsibility for results achieved
Guidelines used in making consistent decisions
11
The written legal document that defines ownership and operating procedures for a company is...
Articles of Confederation
Articles of Incorporation
Business Goals
Mission Statement
12
Precise statement of results the business expects to achieve,(reasonable) is what?
Policy
Mission statement
Set Goal
Procedure
13
What is a contingent worker?
A worker who is on a set salary
A Teacher
The President
A worker who has no set salary
14
Setting the direction of the company is what?
Set Goal
Policy
Mission Statement
Procedure
15
What is a business owned and ran by one person?
Partnership
Proprietorship
Corporation
Shareholder
16
Descriptions of the way the work is to be done
Partnership Agreement
Policy
Procedures
Set Goal
17
What is a producer in business terms
The middleman or wholesaler
Someone who works on a short term.
The company or business that creates the product.
The people transporting the goods
