Final Review Flashcards
Bribery occurs when gifts, money, or favors are offered
to encourage business deals
The legislation that mandates truthful financial reporting and makes the CEO more accountable for the actions
Sarbanes-Oxley Act
The federal agency that enforces the laws that protect consumers from dangerous products is known by the acronym
FDA
recommended traits for a career in entrepreneurship
Enthusiastic, goal-oriented, and a risk-taker
Most US businesses are
Sole Proprietorships
One of the biggest obstacles in starting a business is
obtaining financing
SBA is an acronym that stands for
Small Business Administration
A dividend is
the money made as a result of owning a share of stock
In order to start a corporation, the first thing one must do is
obtain a corporate charter from the state government
One disadvantage that corporations face is
double taxation
An example of a franchise is
McDonald’s
An example of initiative would be
figuring out a new and efficient way to handle a problem on your own
A self-managed team works best when members
cooperate
When all the steps in a process are linked digitally, it is called a
digital workflow
The development of the global economy is often referred to as
Globalization
