Test 3 Flashcards
The person who pays rent to occupy the space
tenant
The products and materials needed to make the products
Inventory
Companies that sell products and services to businesses
Vendors
A predetermined level of inventory that singles when new stock should be ordered
Re order Point
Areas that suffer from lack of employment opportuniteis
Enterprise zones
The area from which you expect to attract customers
trade area
The person who owns and rents out the building or space
landlord
A section of land that is zones exclusively for industrial business
Industrial Park
Net Profit on Sales
=net income after taxes / by net sales
Net Sales
Gross sales - returns
Gross profit
net sales - costs of goods sold
Net income operations
gross profit- operating expenses
net income before taxes
net income from operations - interest expense
net income after taxes
net income before taxes - income tax paid
return on assets
net income / total assets
Rent per customer
Rent per customer / customers per month
people who provide speciality services to businesses on an as needed basis
freelancers
students who work for little or no pay to gain experience in a particular field
Interns
Payments for labor or services that are made on an hourly, daily, or per unit basis
Wage
an amount of money paid annually for a job position
Salary
a percentage of sail paid to a salesperson
Commision
rewards, other than cash, given to employees
benefits
Defines the employment relationship
Fair labor standards act of 1938
Prohibits discrimination, prevents sexual harassment
Civil rights act of 1964
Must protect workers, log steps of that protections
Occupational safety and health act of 1970
a written statement listing that tasks and responsibilities of a position
Job description
a plan that shows how the various jobs in a company relate to one another
Organizational structure
tenant pays monthly rent, landlord pays property expenses
Gross Lease
