purpose of business Flashcards
buisness
provides goods or services to customers
enterprise
a buisness or the motivation to start one
entrepreneur
someone that sets up a business and takes on risks
goods
physical product given to the customers in exchange for payment
services
doing something for a customer in exchange for payment
customer
someone who buys goods or services
cash
money in its physical form
assets
things that a business owns
profit
total revenue - total costs = positive amount
loss
total revenue - total costs = negative amount
accounts
the records of the financial activity of a buisness
investment
putting money into a business
debt
money that a buisness owes
business plan
a document outlining how a business is going to start and operate
wants/ demands
things that people would like to have
