Pbmf - Chapter 5 Vocab Flashcard Review

Front

A concise statement of a business's purpose and goals.

Back

mission statement

Front

Descriptions of how work is done

Back

procedures

Front

Statement of expected business results

Back

goals

Front

Diagram showing organizational structure, job classifications, and their relationships.

Back

organization chart

Front

A contract allowing a business to sell products/services in a specific way.

Back

franchise

Front

A business owned and run by one person

Back

proprietorship

Front

Separate legal entity formed by state documents

Back

corporation

Front

Written agreement among owners

Back

partnership agreement

Front

Guidelines for consistent decisions

Back

policies

Front

Business owned by 2+ people under an agreement

Back

partnership