GM Business Vocab

What term refers to a Rental Contract ? A - Tender B - Assets C - Lease

What is the name of money earnt by a business after the expenses and taxes have been deduced? A - Outsourcing B - Profit C - Loss

What is the name of a person or organisation that is the first to try new ideas? A - Franchise B - Entrepreneur C - Innovator

What is the name of a business operating under a licence granted by the company? A - Franchise B - Profit C - Liability

What is the practice of subcontracting portions of work to outside suppliers, in order to reduce costs? A - Outsourcing B - Innovator C - Profit

What is the name of the legal debts and obligations of an organisation? A - Business plan B - Liabilities C - Business plan

Retrofitted refers to when something is? A - Modernised B - Auctioned C - Sold to a partner

What is the name of something valuable that an entity owns? A - Profit B - Innovator - C - Assets

What is the name of a person that starts a business? A - Assets B - Franchise C - Entrepreneur