Busy. Please wait.
Log in with Clever

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever

Username is available taken
show password

Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't Know
Remaining cards (0)
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Chapter 2.1


free enterprise system people are free to produce the goods and services they choose, individuals are free to use their money as they wish: spend it, invest it, save it, or donate it.
profit the amount of money earned over and above the amount spent to keep the business operating
loss business that spend more money than they earn to operate
entrepreneur is a person who transforms ideas for products or services into real-world business
capital money that investors, banks, or business owners supply
services business provides a needed service for a fee
merchandising business buys finished products and resells them to individuals or other business
manufacturing business buys raw materials, uses labor and machinery to transform them into finished products, and sells the finished products to individuals or other businesses
sole proprietorship is a business owned by one person
partnership is a business owned by two or more persons called partners, who agree to operate the business as co-owners
corporation is a business recognized by law to have a life of its own. It must get permission from the state to operate
charter gives a corporation certain rights and privileges also spells out the rules under which the corporation is to operate
Created by: justinjurado
Popular Accounting sets




Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
restart all cards