Intro to Business Chapters 1-17
Accounting - ✔✔The recording, classifying, summarizing, and interpreting of financial events and
transactions to provide management and other interested parties the information they need to make
good decisions.
Accounts Payable - ✔✔Current liabilities involving money owed to others for merchandise or services
purchased on credit but not yet paid for.
Advertising - ✔✔Paid, nonpersonal communication through various media by organizations and
individuals who are in some way identified in the advertising message.
affirmative action - ✔✔is the employment activities designed to "right past wrongs" by increasing
opportunities for minorities and women.
agency shop agreement - ✔✔Clause in a labor-management agreement that says employers may hire
nonunion workers; employees are not required to join the union but must pay a union fee
Annual Report - ✔✔A yearly statement of the financial condition, progress, and expectations of an
organization.
arbitration - ✔✔The agreement to bring in an impartial third party (a single arbitrator or a panel of
arbitrators) to render a binding decision in a labor dispute.
As an engineer, what did Khan notice about the company that lead him to improvements? - ✔✔notice
the inefficient manufacturing methods the company used to make its bumpers, Khan refined the
process to make it less complicated. a bumper stamped from a single piece of steel that slim down the
rear end of a truck.
Assets - ✔✔Economic resources (things of value) owned by a firm.
Auditing - ✔✔The job of reviewing and evaluating the information used to prepare a company's financial
statements.
, B2B market - ✔✔All the individuals and organizations that want goods and services to use in producing
other goods and services or to sell, rent, or supply goods to others.
Balance Sheet - ✔✔Financial statement that reports a firm's financial condition at a specific time and is
composed of three major accounts: assets, liabilities, and owners' equity.
Before owning a business, and even before finishing school, what fueled Khan's enthusiasm for his work
in college and in business? - ✔✔Khan made $1.20 per hour in terms of Pakistan, you're making more
than 99% of the people over there.
business - ✔✔Any activity that seeks to provide goods and services to others while operating at a profit.
business cycle - ✔✔are the periodic rises and falls that occur in economies over time. Economists look at
a number of business cycles, from seasonal cycles that occur within a year to cycles that occur every 48-
60 years.
capitalism - ✔✔- all or most of the factors of production and distribution—such as land, factories,
railroads, and stores—are owned by individuals.
Cash Flow - ✔✔The difference between cash coming in and cash going out of a business.
Certified Public Accountant - ✔✔An accountant who passes a series of examinations established by the
American Institute of Certified Public Accountants (AICPA).
Chapter 1 - ✔✔
Chapter 11 - ✔✔
Chapter 12 - ✔✔
Accounting - ✔✔The recording, classifying, summarizing, and interpreting of financial events and
transactions to provide management and other interested parties the information they need to make
good decisions.
Accounts Payable - ✔✔Current liabilities involving money owed to others for merchandise or services
purchased on credit but not yet paid for.
Advertising - ✔✔Paid, nonpersonal communication through various media by organizations and
individuals who are in some way identified in the advertising message.
affirmative action - ✔✔is the employment activities designed to "right past wrongs" by increasing
opportunities for minorities and women.
agency shop agreement - ✔✔Clause in a labor-management agreement that says employers may hire
nonunion workers; employees are not required to join the union but must pay a union fee
Annual Report - ✔✔A yearly statement of the financial condition, progress, and expectations of an
organization.
arbitration - ✔✔The agreement to bring in an impartial third party (a single arbitrator or a panel of
arbitrators) to render a binding decision in a labor dispute.
As an engineer, what did Khan notice about the company that lead him to improvements? - ✔✔notice
the inefficient manufacturing methods the company used to make its bumpers, Khan refined the
process to make it less complicated. a bumper stamped from a single piece of steel that slim down the
rear end of a truck.
Assets - ✔✔Economic resources (things of value) owned by a firm.
Auditing - ✔✔The job of reviewing and evaluating the information used to prepare a company's financial
statements.
, B2B market - ✔✔All the individuals and organizations that want goods and services to use in producing
other goods and services or to sell, rent, or supply goods to others.
Balance Sheet - ✔✔Financial statement that reports a firm's financial condition at a specific time and is
composed of three major accounts: assets, liabilities, and owners' equity.
Before owning a business, and even before finishing school, what fueled Khan's enthusiasm for his work
in college and in business? - ✔✔Khan made $1.20 per hour in terms of Pakistan, you're making more
than 99% of the people over there.
business - ✔✔Any activity that seeks to provide goods and services to others while operating at a profit.
business cycle - ✔✔are the periodic rises and falls that occur in economies over time. Economists look at
a number of business cycles, from seasonal cycles that occur within a year to cycles that occur every 48-
60 years.
capitalism - ✔✔- all or most of the factors of production and distribution—such as land, factories,
railroads, and stores—are owned by individuals.
Cash Flow - ✔✔The difference between cash coming in and cash going out of a business.
Certified Public Accountant - ✔✔An accountant who passes a series of examinations established by the
American Institute of Certified Public Accountants (AICPA).
Chapter 1 - ✔✔
Chapter 11 - ✔✔
Chapter 12 - ✔✔
