Asset - A tangible item a business owns., B2B - A business-to-business (B2B) transaction between businesses., B2C - A business-to-consumer transaction (B2B)., C Corporation - A business structure that allows the company to pass its income, losses, deductions, and credit through shareholders to decrease their taxes., CEO - The Chief Executive Officer (CEO) holds a leadership role whiting a business. The CEO oversees a business’s operations and resources and makes the major decisions for the company., CFO - The Chief Financial Officer (CFO) holds a leadership role within a business. The CFO oversees a company’s finances., Commission - A fee is paid to an employee for completing a task., Compensation - A monetary amount is given to employees in return for their work., Contract - An agreement between an employee and a company outlining obligations and terms of employment., COO - The Chief Operating Officer (COO) holds a leadership role within a business. The COO is responsible for overseeing the day-to-day administrative and operational functions of a business., Customer - An individual or business that purchases goods and services from a business., Employee - An individual is hired by a company and compensated for their work., Entrepreneur - An individual who aspires to start and run a successful business., Equity - Non-chaser compensation is 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 is willing to provide monetary funds to a business with hopes of earning a return on their money., Liability - The amount of money owed to an entity., LLC - A limited liability company (LLC) is a business with pass-through taxation where owners pay taxes on the company’s 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 share a business’s financial responsibility., Piece Work - A type of compensation is provided for the amount of work produced., Product - A tangible item., Salary - A fixed payment amount is provided to a full-time employee., S Corporation - A type of business structure with a special tax advantage that allows the company to pass its income, 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 small group of people. They commonly have fewer employees and revenue than larger-sized businesses., Sole Proprietorship - A type of business structure with a singular 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 Domain 1 Lesson 1 Vocab

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