Across
- 3. the coordination of the human, physical, financial and information resources to achieve the goals of the business
- 5. if the business cannot pay its debts, a shareholder generally loses only the money he or she invested in the business
- 6. amount remaining when the cost of goods sold is deducted from revenue
- 11. the group of customers to whom the business intends to sell its products
- 13. the monetary value of a business’s reputation
- 16. amount remaining when operating expenses are deducted from gross profit
- 18. the income earned by a business
- 19. when a business owner is personally responsible for all the debts of his or her business
- 20. a thing of value owned by a business
- 21. a business owned and operated by 2–20 people
Down
- 1. the ability of a business to develop strategies that ensure it has an ‘edge’ over its competitors
- 2. methods used by a business to inform, persuade and remind customers about its products
- 4. the process of identifying and minimising the risks faced by a business
- 7. the total market the value of the business to the owner(s)
- 8. when the company has become a separate legal entity from its owners (shareholders)
- 9. collecting and analysing information about customers and the business opportunities available
- 10. the ability of a business to pay its debts on time
- 12. someone who starts, operates and assumes the risk of a business venture in the hope of making a profit
- 14. a business owned and operated by one person
- 15. the rights from a manufacturer to distribute its products under its name
- 17. the debts owed by a business to others