Technical Terms Flashcards
The most outstanding machine.
Human mind.
The ability to develop an original idea.
Creativity
The introduction of a new idea or method in an already existing product or concept.
Innovation
The product of Creativity.
Computer
The product of Innovation.
Laptop
A person who uses the services of another person in business, trade, and industry.
Employer
The imposition of compulsory levies on persons and other entities by the government.
Taxation
a tax levied on the wages, salaries, dividends, interest, and other income a person earns throughout the year.
Individual Income Tax
A net worth tax imposes taxes on the stock of wealth regardless of the returns.
Taxes on Net Worth
A tax on the right of the deceased person to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death.
Taxes at Death
a tax that is levied upon goods and services before they reach the customer who ultimately pays the indirect tax as a part of market price of the good or service purchased.
Indirect Taxes
the tax is a percentage of the product or service that is added at the point of sale and paid for by the customer.
General Sales Tax
A duty TAX on manufactured goods that normally levied at the moment of manufacture for internal consumption rather than at sale.
Excises
a tax based on the assessed value of an item, such as real estate or personal property.
Ad Valorem Taxes
The Latin phrase ad valorem means
“according to value.”
a type of direct tax levied on the income or capital of corporations and other similar legal entities. The tax is usually imposed at the national level, but it may also be imposed at state or local levels in some countries.
Corporation Income Tax
- as the name suggests, are charged on the value of products that flow into and out of a country, notably in the form of import and export duties.
Trade taxes
a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry
Tariff
is a juridical necessity to give, to do or not to do.
obligation
the meeting of minds between two persons whereby one binds himself / herself with respect to the other to give something or render some service.
Contract is
is an analysis of the viability of an idea.
FEASIBILITY STUDY
is a preliminary systematic assessment of all critical elements of the project
pre-feasibility study
Most of the guidelines that are used today in business management came from ___
writers of management philosophies
It is a carefully thought out explanation for observations of the natural world
theory
the administration of organization
management
“to bind”
Oblique
A person who organizes, develops and operates in their business
Entrepreneur
