Business Characteristics (icevonline)

Front

Department responsible for managing the use of company funds, obtaining needed funds and creating a financial plan

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Finance

Front

Process of recording, classifying, summarizing and reporting the financial position of a business

Back

Accounting

Front

Items of value owned by a business

Back

Assets

Front

Assets = Liabilities + Owner’s Equity

Back

Accounting Equation

Front

Department responsible for producing goods and services in the most efficient and cost-effective manner

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Production

Front

Businesses which change raw goods into a more finished form, known as processed goods

Back

Processors

Front

Marketing theory stating the stages experienced by products and services from their introduction to their decline; consists of four stages: introduction, growth, maturity, decline

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Product Life Cycle

Front

Businesses which develop products for distribution from raw goods

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Producers

Front

Four interrelated marketing strategies used to meet consumer needs; consist of product, price, promotion and place

Back

Marketing Mix

Front

Process of reaching a company’s goals and objectives by utilizing its resources; department responsible for the management process

Back

Management