Foundations of Business Management Final Exam Review 1

What a person owns of value such as jewelry, savings, art, a home, and a car

business with one owner

a spending plan people make in order to make sure there is enough income to cover all expenses

business with two or more owners

legal entity that can be structured as a partnership or corporation

legal entity that is similar to an individual in the eyes of the law

a person who organizes and operates a business, taking on financial risk to do so

a formal statement of a set of business goals

government agency formed on July 30, 1953; delivers loans, loan guarantees, contracts, counseling sessions, and other forms of assistance to small businesses

portion of the business plan that summarizes the rest of the document; appears first but is written last