Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

School > DECA VOCAB > Flashcards

DECA VOCAB Flashcards

1
Q

Credit Union

A

non profit deposit-taking institution owned by members or customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Forecasting

A

forecasting is the attempt to predict future outcomes based on past events and management insight

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Endorsing

A

In business or legal matters, an endorsement refers to a signature or an equivalent stamp that authorizes payment or a transfer of funds, or other financial transaction

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Opportunity Cost

A

the forgone benefit that would have been derived from an option other than the one that was chosen

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Cash Flow

A

the movement of money in and out of a company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Accounts Recievable

A

the money a company’s customers owe for goods or services they have received but not yet paid for

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Accounts Payable

A

the money a company owes its suppliers for goods and services that have been provided and for which the supplier has submitted an invoice

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Return of Capital

A

A Situation where you receive back money that was previously invested

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Enterprise

A

a legal entity possessing the right to conduct business on its own

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Corporation

A

a legal entity that is separate and distinct from its owners

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Brick and Mortar

A

a traditional street-side business that offers products and services to its customers face-to-face in an office or store that the business owns or rents

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Sole Proprietorship

A

an unincorporated business that has just one owner who pays personal income tax on profits earned from the business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Partnership

A

a legal arrangement that allows two or more people to share responsibility for a business, they share the profits, work, responsibility and losses

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Pay Stub

A

a document that’s given to an employee each payday. It shows their total amount earned, less deductions for things like tax

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Net Pay

A

the pay the employee will get after deductions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Gross Pay

A

total pay before deductions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Bookkeeping

A

the process of keeping track of a business’s financial transactions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Whistleblower

A

is the activity of a person, often an employee, revealing information about activity within a private or public organization that is deemed illegal, immoral, illicit, unsafe or fraudulent

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Aptitude

A

natural talents to do something

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Noncompliance

A

failure to act in accordance with a wish or command (ex. noncompliance to a policy)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Tax Deductions

A

an amount that you can deduct from your taxable income to lower the amount of taxes that you owe

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Dividends

A

payments a company makes to share profits with its stockholders

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Point-of-Sale

A

a place where a customer executes the payment for goods or services and where sales taxes may become payable (where a customer makes the transaction)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Pilferage

A

the action of stealing things of little value

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Stocks

A

a share in the ownership of a company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Bonds

A

A bond is a fixed-income instrument that represents a loan made by an investor to a borrower (typically corporate or governmental)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Memo

A

used to communicate something of immediate importance to people within a business or organization

28
Q

Plaintiff

A

a person who brings a case against another in a court of law

29
Q

Defendant

A

an individual, company, or institution sued or accused in a court of law

30
Q

Invoice

A

a time-stamped commercial document that itemizes and records a transaction between a buyer and a seller

31
Q

Assets

A

things you can sell for money

32
Q

Monopoly

A

a single seller or producer that excludes competition from providing the same product, single firm controlling market

33
Q

Oligopoly

A

a type of market structure that exists within an economy, small number of firms that control market

34
Q

Perfect Competition

A

there are many buyers and sellers, and prices reflect supply and demand

35
Q

Economic System

A

a means by which societies or governments organize and distribute available resources, services, and goods across a geographic region or country

36
Q

Market Economy / Free Enterprise System

A

an economic system in which individuals and businesses are free to produce, sell, and buy goods and services in a competitive market. In a free enterprise system, prices are determined by the interplay of supply and demand, and resources are allocated through the price mechanism. (limited government intervention)

37
Q

Supply

A

amount of a good or service that is available for sale in the market

38
Q

Demand

A

the desire or need for a good or service

39
Q

Traditional Economy

A

a system that relies on customs, history, and time-honored believes. rural and tied to farming system where everyone is close-knit and has a pronounced role (ex. i have egg you have egg, let’s trade)

40
Q

Command Economy

A

the government determines what is produced, how it is produced, and how it is distributed. Private enterprise does not exist in a command economy. The government employs all workers and unilaterally determines their wages and job duties and product pricing

41
Q

Market Economy (Free Economy)

A

a type of economic system where supply and demand regulate the economy, rather than government intervention. A true free market economy is an economy in which all resources are owned by individuals

42
Q

Mixed Economy

A

a system that combines aspects of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims

43
Q

Capitalism

A

an economic and political system in which a country’s trade and industry are controlled by private owners for profit

44
Q

Democratic

A

based on the idea that everyone should have equal rights and should be involved in making important decisions

45
Q

Laissez-Faire

A

The driving principle behind laissez-faire, a French term that translates to “leave alone” (literally, “let you do”), is that the less the government is involved in the economy, the better off business will be, and by extension, society as a whole.

46
Q

Capital

A

The money used to grow, build and run a business. Can also be referred to as net worth

47
Q

Elevator pitch

A

A thirty second brief introduction

48
Q

Savings account

A

Not much a risk, money is accessible at all times and little interest is earned

49
Q

Sales skimming

A

Removal of cash before it is deposited or logged, it is illegal as you may have to pay less tax from your sales

50
Q

Money laundering

A

Illegal process of making large amounts of money from criminal activity

51
Q

Operating expense

A

An expense through the cost of doing business

52
Q

Owners equity

A

The portion of a company’s assets that can owner can claim

53
Q

Private enterprise system

A

Economic system that is based on the principle of companies being owned privately, rather than the government

54
Q

Touch Points

A

Touch points are possible opportunities for interacting with customers and prospects, whether using call centres, salespeople, direct contact in shops or shows, company websites, or e-mail

55
Q

Company Image

A

the public image and perception of a business or brand

56
Q

Zero based budget

A

unlike traditional budgets where you can use your old budget as a base for your next one. in zero based budgets, you start from scratch

57
Q

Low context culture

A

high value on using verbal communication and saying what you mean

58
Q

Branding

A

the process of creating a distinct identity for a business in the minds of your target audience and the general population

59
Q

Relationship Buying

A

Relational buyers are primarily looking for a trusted advisor, and will commit once they have the confidence that they’re making the right choice

60
Q

Unions

A

sometimes help businesses save time by hiring employees

61
Q

Derivative

A

something created or formed from the base of something else
ex. a new cookbook that was created from the base of the old one

62
Q

Budget Credit Account

A

a customer account with a retailer that allows the customer to make regular monthly payments to cover past and future purchases

63
Q

Revolving Credit Account

A

A revolving account is a type of credit account that provides a borrower with a maximum limit and allows for varying credit availability. Revolving accounts do not have a specified maturity date and can remain open as long as a borrower remains in good standing with the creditor. How much you owe and whether you owe interest each month depends on how quickly you pay off what you’ve charged
ex. credit card

64
Q

Installment Credit Account

A

These usually have fixed payments and a designated end date
ex. car or mortgage

65
Q

Incentive

A

Incentive refers to something that motivates someone to do something. In the context of executive compensation, it is usually a financial reward given to executives to encourage them to work harder and achieve specific goals.

66
Q

Letter of inquiry

A

the purpose of the letter of inquiry is to generate interest and a desire to hear more in a full proposal

67
Q

Seniority

A

Seniority is the extended continuous service with a company or organization. This means that people who have worked at a company the longest have the highest level of seniority.

School (2 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions