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Business Activities

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
Angel Investor   Someone who provides start up money to a new business.  
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Asset   Anything of value that a business or individual owns.  
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Bond   A piece of paper (whether real or virtual) that says a governing body or corporation will borrow an investors money at a particular interest rate for a particular period of time.  
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Business   An organized effort to produce and/or distribute goods and services  
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Credit   The arrangement by which businesses and individuals can purchase now and pay later.  
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Credit Rating   The score assigned to a borrower based on previous loans.  
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Database   A virtual storage unit for information  
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Debt   Money businesses or individuals owe to others.  
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Equity   Assets minus liabilities; also known as stockholders' (or shareholders') equity, book value, and net worth.  
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Executives   Top-level employees.  
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Expenses   The money that a business spends.  
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Financial Analysis   The process pf planning, maintaining, monitoring, controlling, and reporting the use of financial resources.  
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Financial Records   Documents containing information relating to the amount of money going into and out of a business.  
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Financing   Funding a business activity or project through debt, equity, or venture capital.  
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For-Profit Business   A business whose overall purpose is to earn a profit.  
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Goal   An objective or want that you plan to fulfill.  
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Human Resources   People who work to produce goods and services.  
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Human Resources Management   The process of planning, staffing, leading, and organizing the employees of the business.  
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Income   The money received by resource owners and producers for supplying goods and services to customers.  
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Information Management   The process of accessing, processing, maintaining , evaluating, and disseminating business knowledge, facts, or data.  
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Interest   The reward or cost of lending or borrowing money, usually figures as a percentage of the amount.  
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Inventory Management   The process of supervising and controlling the number of finished products a company has in stock.  
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Job Description   The official statement of job duties an employee must perform.  
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Loan   A sum of money lent to a business or an individual for a specific time period that is repayable with interest.  
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Manager   An individual whose job involves planning, organizing, staffing, directing and controlling for a business.  
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Manufacturing   Changing the shapes or forms of materials so that they will be useful to consumers.  
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Marketing   The process of creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large.  
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Merger   Two individual businesses that combine to form one organization.  
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Mission   A brief summary of what a business owner wants a business to be doing.  
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Nonprofit Business   A business or organization whose intent is to make enough money to support its mission.  
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Offshoring   Producing goods in foreign countries.  
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Operations   The day-to-day activities required for continued business functioning.  
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Orientation   Job preparation or induction training in which new employees are acquainted with their surroundings, receive general information about the company and its policies, and are given specific information about their jobs.  
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Outsourcing   Acquiring assistance from outside organizations/consultant to reform primary business activities.  
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Overhead   Business expenses for things such as payroll, rent, and utilities.  
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Production   The process of activity of producing goods and services.  
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Profit   Monetary reward a business owner receives for taking the risk involved in investing in a business.  
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Purchasing   The process of acquiring the goods and services necessary to keep production going and to accomplish business goals.  
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Quality Control   Ensuring the degree of excellence of a good or service.  
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Recruiting   Seeking out and attracting qualified potential employees.  
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Resource   Any item that is used to accomplish another activity, such as producing/ providing goods and services.  
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Revenues   Sales or gross income.  
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Strategic Management   The process of planning, controlling, and organizing an organization or department.  
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Strategic Position   How a business measures up in relation to other businesses in the industry; can involve the image or impression of a business or organization.  
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Strategies   Plans of action for achieving goals and objectives.  
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Supervisor   An employee who oversees other employees.  
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Tactics   Specific actions that will be used to carry out strategies.  
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Technology   Scientific applications to business objectives or the methods used to attain those objectives.  
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Venture Capital   Invested money used for new business opportunities.  
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Virtual Services   Services provided through a medium of communication (such as the internet), rather than in person.  
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Vision   A summary of what a business owner wants a business to become.  
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