Any lawful economic activity concerned with the production of goods or services for profit

Items of manufacture which have a relatively short lifetime

Items with longer spam of lifetime or can be used many times are called

Is a combination of two root words meaning together and mercis signifying wares businesses firms which are engaged in the buying and selling of goods and services are classified as those falling under what

Are those which are mainly concerned with production. Goods produced are those which may be intended for ultimate consumption and which are called consumers goods or those which are intended for use of business and industry and which are called producers good

are businesses involved in agriculture forestry and fish culture

Are businesses involved in construction of goods from natural resources which include mining lumbering hunting and fishing

Are those which convert raw materials into finished products example of these are firms engaged in the manufacture of drugs plastics food liquor footwear motor cars tools office supplies household appliances and many others

Consists of firms engage in building infrastructures like airports seaports dams and highways. those involved in the construction of dwelling houses are included

Is one which sells services to buyers. It may be classified as recreation, personal, and finance.

It is a type of service which have movie houses, television and radio stations theaters for drama and stage presentations

It offers service such as in a restaurants barber shops, transportation, hotel tailoring shops

It is a business which are in banks, insurance companies, investment houses, financing institution, credit union, savings and loans association

Business firm is established primarily for profit at times however short term and long term profits are sacrifice in order to attain other goals such as

What are the four objectives of business

Involves an agreement over the use of real property for a period of time this is used to obtain initial control of the land and buildings required

Is an agreement whereby one person grants another the right to buy a certain property at an agreed price at or within a stated future time

A retention of required skills and properties can be achieved with the use of

Is an exclusive right granted by the franchisee to the franchisor for the operation of the public utility service or the selling or distribution of a product in a specified atea

Are those granted by the government. example: electricity and water services

Which involves the exploitation of goods and services identified by a trademark or a trade name. It includes the preparation of the blueprint of a successful way of carrying a business in all aspects Example: mcdonald's and jollibee

Is the right granted by the government to for the exploitation of natural resources place at his disposal for a some consisting of a minimal periodic payment plus for the percentage of the income from sales

It gives the holder the soul right to make use or sell the invention during the period

It gives the holder the monopoly on the exploitation of a literary or artistic work for a certain period subject to renewal

The person responsible for the formation of a company

They are those whose main occupation in business promotion

They are persons who perform promotional activities occasionally

They are banking institution which provide business promotion service to their clients

They insist of investment houses engage in a promotion of certain business ventures through the sale of securities

They are those engaged in development of new subdivisions

What are the three steps involved in business promotion

The study of acquisition and investment of cash for the purpose of enhancing value and wealth it is the science of funds management

It deals with the revenue and expenditure patterns of the government and their various effects on the economy

It's a finance that manage one owns personal money affairs

Undertaking such as charity religion and private education

Refers to the provision of money for commercial use it is concerned with the effective use of funds and cover financial management of private profit seeking concerns in a business service trade manufacturing mining public utilities and financing

It means realizing the highest peso or dollar income

Obtaining a higher rate of return on its investment

Maximize profits and maintain a cash balance that can take care of cash requirements anytime

The firm's objective is to maximize the current value of the company to its owner

Money increases in value which the passing of time

What is the formula of maximizing net present worth (net present value)

It presents the financial information to various interested parties it is a formal record of the financial activities of a business person or other entity

Also referred to as a balance sheet reports on a owner company's assets liabilities and ownership equity

Also referred to as profit and loss statement reports to a company's income expenses and profits over a period of time

Statement produce periodically normally at the end of a financial year showing an organization's asset liabilities and the interest of the owners

Composed of cash bank deposits and other items readily convertible into cash like accounts receivable stock and work in process inventory and marketable securities

compose of investment in subsidiary or associated companies

Shows the firm's ownership of property like land buildings plant and machinery equipments vehicles furniture and fixtures all values at cost less depreciation written off

Present goodwill, patents, copyrights, which are attributed to the firm

That's payable within a few days weeks or months like those incurred in the purchase of raw materials

Debts evidence by promissory notes and often times back up by collaterals

Down payments made before orders are processed

This refers to obligations which have been incurred but not yet paid

Company borrowing and other sources of funds this represents long term debts and is usually secured by land buildings or equipment

Issued when a large amount of long term debt is sought from a large number of creditors

Represents the revenues realized from the sale of commodities and services produced by the company as well as the cost expenses incurred in connection with the realization of said revenues

Refers to the gross income from the production and sale of the firms product or service it includes cash collections and receivables or unpaid sale

This refers to the monetary values of the goods and services used in the production and delivery process in order to obtain revenues

It represents the summary of the cause of raw materials labor and various overhead cost directly involved in the manufacturing

Expeditious like salaries of supervisors, depreciation, light, and water supplies and factory rent

It represents the marketing general and administrative expenses

The excess of total revenues over total expenses if total expenses exceed total revenues a net loss is reported

Estimate of income and expenditures for a future period it completes the financial picture by referring to the future

It is a mechanism that allows people to easily buy and sell financial securities such as stocks and bonds commodities

Borrowers borrow funds directly from the lenders in the financial markets by selling them securities (financial instruments)which are claims on the borrowers features income or assets

Borrowers borrow funds through financial intermediaries such as banks insurance companies and pension funds in the form of loans and deposits

It provides financing through the issuance of shares or common stock and enable the subsequent trading thereof

It provide financing through the issuance of bonds and enable the subsequent trading thereof

Is a financial market in which new issues of a security such as bond or stocks are sold to initial buyers by the corporations or government

Deals with securities that previously issued. these securities are resolved in these markets It makes the financial instrument more liquid

Include interest expense

refers to non Operating income

It is the summary of the performance of the firm

The financial condition of the firm

Provide instruments for the management of financial risk

Which facilitate the redistribution of various risk