Asset - A tangible item a business owns., B2B - A business-to-business commercial transaction between businesses, B2C - A business-to-consumer transaction, C Corporation - A business structure that allows the company to pass income, losses, deductions and credits through its shareholders to decrease their taxation, CEO - a leadership role within a business oversees business operations and resources - makes the major decisions, CFO - leadership roll that oversees finances, Commission - a fee paid to an employee for completing a task or sale, Compensation - An amount of money given to employees in return for their work for ex. $10 for each hour worked, Contract - An agreement between an employee and a company outlining obligations and terms of employment, COO - a leadership role within a business responsible for overseeing the day-to-day administrative and operational function of a business, Customer - An individual or business that purchases goods and services from a business., Employee - An individual hired by a company and compensated for their work., Entrepreneur - An individual who aspires to start and run a successful business., Equity - Non-cash compensations offered to employees in place of or in addition to a lower salary., Founder - The person that developed or created a company or organization., Franchise - A business that takes its name and characteristics from an existing business chain., Investor - A person or entity willing to provide monetary funds to a business with the hopes of earning a return on their money, Liability - The amount of money owed to an entity ex the money owed to a bank for a loan., LLC - A hybrid business wih pass through taxation where owners pay taxes on the companys profit and losses through their personal taxes, Nonprofit - A type of business that has no owner and does not pay federal US taxes., Owner - The individuals that own the business., Partners - Two or more individuals that share a business's financial responsibility., Piece Work - A type of compensation provided for the amount of work produced., Product - A tangible item., Salary - A fixed payment amount provided to a full-time employee., S Corporation - A busines sstructure whith taz advantatge that allows the company to pass its oncome losses, deductions and credits through its shareholders. , Service - An intangible service or skill that is performed., Small Business - A corporation, partnership, or sole proprietorship that is privately owned by one individual or a small group of people, Sole Proprietorship - A type of business structure with a single owner. The business is not shielded from any amount of liability, Stakeholder - An individual with an interest in a business., Stockholder - An individual that owns at least one share in a corporation's stock.,

ESB Vocab 1

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