CONCEPT OF BUSINESS Flashcards
is a legally recognized organization designed to provide goods or services or both to consumers.
Business
is a type of business that offers intangible goods or services to customers rather than physical products. These businesses focus on providing a service that fulfills a specific need or solves a problem for their clients.
Service Business
is a type of business that sells products directly to consumers for personal use. Retailers purchase goods from wholesalers or manufacturers and then sell them in smaller quantities to individual customers.
Retail Business
is a type of business that converts raw materials or components into finished goods for sale to consumers or other businesses.
Manufacturing Business
is a type of business that operates under the brand and business model of a parent company (the franchisor).
Franchise Business
is a type of business that sells products in bulk to retailers or other businesses rather than directly to individual consumers
Wholesale Business
is a type of entity that operates for a purpose other than generating profit for its owners or shareholders
nonprofit organization
is a type of business that operates primarily through the internet, utilizing digital platforms to conduct transactions, provide services, or deliver products to customers.
online business
is a type of business that is typically newly established and focused on developing innovative products or services based on technology
tech startup
is an unincorporated business that one person owns and manages
sole proprietorship
involve two or more individuals sharing ownership, responsibilities, and profits.
Partnerships
are legal entities separate from their owners (shareholders), providing limited liability to shareholders.
Corporation
are people-centered enterprises owned, controlled, and run by and for their members to realize their common economic, social, and cultural needs and aspirations.
Cooperatives
is in charge of the company’s accountants. They are the highest in the food chain, as far as accounting goes
Controller
plays a crucial role in overseeing a company’s financial resources to ensure stability and growth. Responsibilities include managing cash flow, investment strategies, and financing activities to optimize financial health.
Treasurer
