SMBUS Final Study Guide

2. type of businesses owned by two or more people
3. type of business owned by one person
6. A risk that results from changes in overall business conditions
9. someone who works for themselves
14. A contract between a business and an insurance company to cover a specific business risk
17. Risk caused by employee dishonesty, errors, mistakes, and omissions, as well as the unpredictability of customers or the workplace
18. raw organised facts, figures, and symbols
21. taking action to prevent or reduce the possibility of loss to your business
22. Also called a surety bond, a bond that provides financial protection for losses that might occur when a construction project is not finished due to a contractor’s impaired financial condition
23. description and analysis, organizational plan, marketing plan, and financial statements are all a part of this

1. a written statement listing the requirements of a particular job and the skills needed to fulfill those requirements
4. A bond that provides insurance that protects a business from employee dishonesty
5. level of management that lays down the objectives
7. A business refuses to engage in a particular activity
8. A risk that is caused by natural occurrences, such as floods, fires, and earthquakes
10. A property insurance endorsement that provides protection against types of loss that may not be covered under a basic property insurance policy
11. a company's stated beliefs on how its business should be run
12. type of business is a contractual agreement with a parent company to sell its product/service in an area
13. type of business owned by many people called stockholders
15. the levels of management are in this shape
16. raising capital means raising what for a business
19. a group of consumers which a product/service is aimed
20. they can improve business processes, regulate staff turnover, help make decisions as well as manage data storage