1、 .Forms of ownership: Sole Proprietorshipa business owned and operated by a single individual. Partnership- a business owned by two or more people. Limited Companya company where ownership is represented by company s shares.1. Board of directors-.C the officials elected by shareholders who rule the
2、company2. Current liabilitiesthe money that a company during which certain goods are produced.3. Dividendscompany profits paid to shareholders.4. Entrepreneur- person who sets up a new commercial enterprise to make a profit.5. Indebtedness - amount of debts6. Initial funds -funds used in starting a
3、business.7. Liabilities - the amount of debt that must be paid.8. Shareholders- those who own shares of a companys stock.9. Accounting - the action or process of keeping financial accounts. Is a system of gathering , summarizing and communicating financial information for a business firm, government
4、 or other organizations.10. Balance sheet - is a statement which describes the companies resources and indicates where these resources have come from.11. Bankruptcy -when a company is judged legally to be unable to pay its debts .12. Fiscal policy/tax policy - is a governments policy that deals with
5、 governments taxing and spending programs. 13. Income statementa report of firms revenue and expenses during a certain period. 14. Rate of inflation - is the amount on the speed of inflation. 15. Sales ledger - a book in which a company records all its sales. 16. Distributionthe movement of goods &
6、services from producer to customer.17. Assets18. Barterexchanging of goods and services for other goods or services.19. Equity capital-funds (in a company) raised by selling stock and retained earnings.20. Bonda certificate issued by the government or a company promising to pay back borrowed money a
7、t a fixed rate of interest on a specified date.21. Cash-22. Fixed assets-23. Cash on delivery-a method of payment for goods at the time of delivery24. Cash with ordera method of payment for goods when cash is paid to the supplier at the time that the order in placed.25. Commodity-26. Consumer-somebo
8、dy, who uses goods or services.27. Currencythe money in use in a country.28. Demand- -customer interest in acquiring smth.29. Supply-e the quantities of a type of goods available on the market.30. Supplierthe company that provides the materials needed for manufacturing a product31. Raw materials-the
9、 materials used in a manufacturing process.32. Working in progress (WIP)the stage in a company during which certain goods are produced.33. Finished stock-a supply of goods for sale, usually kept at a warehouse.34. Current assetsinclude cash and items that can be easily turned into cash35. Durable go
10、odslong-lasting products.36. Advertising-the promotion of goods or services through media.37. Advertising agencyan organization which provides (for a certain commission) advertising services.38. Discount-a reduction in the usual price of something.39. To settle a complaint-to put things in order to
11、satisfy the customer.40. Hire-purchase contracts (installment sales)a system for buying goods involving a series of payments at regular intervals.41.JIT (just in time) -a manufacturing and stock-control system in which goods are produced and delivered as they are required.42. Lean production-doing t
12、hings as quickly and cheaply as possible, without waste.43. Marketingthe activity of presenting advertising and selling companys products in the best possible way.44. Markup-the difference between the manufacturing cost of an item and its selling price.45. Output-46. Outsourcing-using outside suppli
13、ers for goods or services.47. Premises-the buildings used in running a business. 48. Profit- money that you gain by selling things or doing business after your costs have been paid.49. Real estateland including all the property on it.50. Receivablesthe assets owed to a company.51. To retail- to sell
14、 goods to customers in small quantities and without a discount. (to sell in small amounts)52.To wholesale- to sell goods in large amounts.53. Seasonal demandthe demand dependent on the time of year.54. Stock (inventory) -a supply of raw materials, work-in progress and finished goods that is availabl
15、e for use.55. Working capitalthe money that a business has available for its operation.56. Bad debtsa sum of money owed that is unlikely to be repaid.57. Credit card-58. Credit limitthe maximum amount of credit given to a customer.59. Credit ratingthe figure showing a customers ability to repay mone
16、y or goods given on credit.60. Debtor - a person who owes money61. Creditora person (organization) to which money is owed.62. To default on (re)paymentto fail to pay a debt.63. Interesta charge for the use of loan.64. Long-term loana loan given for a period of 5 years or more.65. Short-term loanthe
17、loan given for a period of up to 5 years.66. Terms of creditthe conditions of granting a credit.67. Trade creditthe goods given on credit.68. Income taxa tax paid on money made from employment , business or capital.69. Market economyan economy where economic decisions are determined by the market an
18、d the laws of supply and demand70. Mixed economyan economy that combines elements of market and command economies.71. Command economyan economy in which the government makes economic decisions about production and distribution.72. Monetary policygovernments policy that deals with interest rates, ava
19、ilability of loans and money supply.73. Benchmarkingstudying organizations that are among the best in the world at performing a particular task.74. Booma period of rapid economic growth75. Recession a period of decline in economic activity.76. Economic environmentthe environment in which firms, people, government and local authorities deal with economic matters.77. Exportsproducts sold to another country78. Importsproducts brought into one country from another country.79. Securities stocks or shares in a company.80. Stock market - the place where stocks and shares are bought and sold
