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chapter 1.2 ACC
accounting
| Term | Definition |
|---|---|
| free enterprise | people are free to produce the goods and services they choose |
| profit | the amount of money earned over and above the amount spent to keep the business operating |
| loss | spending more money than you have |
| entrepeneur | a person who transforms ideas for products or services into real world businesses |
| capital | money that investors, banks or businesses owner supply is capital |
| service |