Virtual Business - Fall 2022

Front

Fixed Assets are...

Back

assets used over a long period to operate the business

Front

What type of business ownership is the most complicated form of business; business granted a charter recognizing it as a separate legal entity having its own rights, privileges and liabilities distinct from those of its members?

Back

Corporation

Front

A summary of your current personal financial condition is a

Back

Personal financial summary

Front

These are the assets expected to convert to money within the year.

Back

Current Assets

Front

The money raised from within the company or by selling part of the company interest is called

Back

Equity Capital

Front

The monetary funds invested in a project

Back

Capital

Front

Partners have an unequal share and liability in the business; they are responsible only for the amount they invested

Back

Limited Partnership

Front

An agreement to operate a business in the name of an established company

Back

Franchise

Front

Partners share in the profits and losses of the business; both are equally liable for company debts

Back

General Partnership

Front

This is a projection of what it will cost for the first year of operation

Back

One-time Costs