Business Terminology Flashcard

Front

What is a "downline" in business terms?

Back

The collection of all people signed up underneath an individual.

Front

What does "due diligence" refer to in a business context?

Back

The inquiry process of obtaining sufficient and accurate disclosure

Front

Who is an "entrepreneur"?

Back

A person who organizes, operates, and assumes the risks for a business venture

Front

What is a "fund" in financial terms?

Back

A reserve of money set aside for some purpose

Front

What is a "general partnership"?

Back

An organizational structure in which each general partner shares in the administration, profits, and losses.

Front

What is a "home-based business"?

Back

A business whose primary office is in the owner's home

Front

Who is an "independent contractor"?

Back

One who practices an independent trade, business, or profession

Front

What is an "intrapreneur"?

Back

Someone who takes on entrepreneurial ventures within a large corporate environment.

Front

What is a "joint venture"?

Back

A legal entity created by two or more businesses joining together.