Business Basics Chapter 3

3. Consultant a middle person who maintains contracts and the availability of products a business sells.
6. Expenses cost that accrue day to day as a result of doing business.
7. Proprietorship a business owned by one person who has complete control of the operations and decision making.
8. Liability protects owner in the case of client product misuse.
13. a business that is owned by two or more persons.
16. Expenses expenses that don't change and stay the same month to month.
17. financial advisor used to explain tax benefits and liabilities.
18. Worth the amount left after you subtract liabilities from assets.
20. payments made to a business owner or employee for work performed.

1. Compensation a state controlled insurance account that provides expense coverage if an employee is injured on the job.
2. all payments for services received from client's
4. a name for the money that is owed by a person or business.
5. a type of insurance policy that protects the owner of a business in the event an employee acts negligently.
9. is business formed under legal guidelines and require articles of incorporation to perform business functions.
10. Rent a monthly fee plus a percentage of monthly sales.
11. Agent professional that provides advice on the types of coverage needed to protect a business.
12. Rent a monthly set amount for rental of a business property.
14. license for operation granted after fees are paid in exchange for business specific furniture, supplies, management materials.
15. Expenses the amount owed for business operation changes from month to month.
19. property owned by a person