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IBT FinalStudyGuide3

Intro to Business Final Exam Study Guide

TermDefinition
23. Promotion communicating information about products and services to potential customers.
24. Selling communicating directly with potential customers to determine and satisfy their needs.
25. Executive top level managers with responsibilities for the direction and success of the entire business.
26. Leadership skills skills needed to be an effective leader which can be developed by studying leadership, participating in clubs, practicing leadership, and observing leaders.
27. Ethics principles of morality or rules of conduct.
28. Assets what a company owns, anything of value owned by a business.
29. Income statement a report of revenue, expenses, and net income or loss from operations for a specific period.
30. Asset record a financial document used to name the buildings and equipment owned by the business, their original and current value, and the amount owed if money was borrowed to purchase the assets.
31. Expenses the costs of operating a business.
32. Take-home pay money you receive for working after taxes and deductions are removed.
33. Credit Union a user-owned, not-for-profit, cooperative financial institution.
Created by: kcaverly
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