Ch 1 Review topics
Franchise
A business established or operated under an authorization to sell or distribute a company's goods or services in a particular area
Entrepreneur
A person who organizes, manages, and takes on the risks of a business.
Non-Profit
An organization that is set up to help those in need but not to make a profit from the business.
S Corp
Corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes.
Digital goods
Goods that can be delivered over a digital network (music, video, software, newspapers, books
C Corp
Subject to dual taxation, taxed as income for shareholders, limited liability
CFO
The chief financial officer is responsible for a business's finances.
Sole Proprietor
a business owned and controlled by one person
LLC
a business structure in the U.S. that protects its owners from personal responsibility for its debts or liabilities.
CEO
a chief executive officer, the highest-ranking person in a company or other institution, oversees operations and resources, reports to the boards of directors
Small Business
an independent business with fewer than 500 employees
B2B
business to business
B2C
business to consumer
Tangible
can be touched physically
Capital
invested, or available or investment - money for investment
Ecommerce
the buying and selling of goods and services over the internet