Career Planning 11 Chapter 4 Entrepreneurship 4.1- 4.2

A person who organizes and then runs a business is called an __________.

• lease

• goodwill

• entrepreneur

• start-up-costs

The _______, or loyalty, of existing customers is one of a business's trained most valuable assets.

• lease

• goodwill

• entrepreneur

• start-up-costs

A _________ is a contract to use something for a specified period of time.

• lease

• goodwill

• entrepreneur

• start-up-costs

___________are the expenses involved in going into business.

• Lease

• Goodwill

• Entrepreneur

• Start-up-costs

A _________ is the legal right to sell a company's goods and services.

• franchise

• market outlook

• sole proprietorship

• partnership

In a _____________, the business is completely owned by one person.

• franchise

• market outlook

• sole proprietorship

• partnership

It is a summary of a business's income and expenses during a specific period, such as month, a quarter, or a year.

• income statement

• corporation

• sole proprietorship

• partnership

A ______________ is a business chartered by a state that legally operates apart from the owner(s).

• income statement

• corporation

• sole proprietorship

• partnership

A __________is a legal arrangement in which two or more people share ownership.

• income statement

• corporation

• sole proprietorship

• partnership

Is the income from sales.

• net profit

• gross profit

• revenue

• corporation