Business Terminology

5. someone who starts or owns a business
6. improving a product
7. exchange of goods/services for other goods/services
9. drawing benefits from an asset
10. legal claim against a business for money owned to another business
13. a resource with economic value to a business
14. the rivalry between companies offering the same product/service to the same customers
18. increases an asset or expense account
20. legal debts a company owes to third-party creditors

1. a license that lets a franchisee to sell a produce/service under a franchisor's business name
2. an agreement between two or more entities that share ownership of a business
3. an agreement between a lender and a borrower
4. facilitates where goods are exchange between sellers and buyers
8. legal entity is separate and distinct from its owners
11. employee tasked with creating product in a business
12. an enterprise that is the only seller of a good/service
15. anything owned from one person to another
16. a company's profitability and financial health
17. anything that gives its owner value or advantage
19. business that is in debt and owns money