I'm a student at Ahuntsic College and I study social science, more specifically, business. Most of my classes are boring and unrelated to my actual field of study like philosophy, french and sports. But, Some classes are actually useful and they benefit me a lot. I hope this glossary will help in clarifying the meaning of some words that are commonly used in the field of business and commerce.
- agreement
- A negotiated and usually legally enforceable understanding between two or more parties.
- bankruptcy
- The legal status of a person or other entity that cannot repay the debts owned to creditors.
- bond
- A debt investment in which an investor loans money to an entity ( corporate or governmental) that borrows the funds for a defined period of time at a fixed interest rate.
- brand
- A category of products that are all made by a particular company and all have a particular name.
- break even
- Reach a point in a business venture when the profits are equal to the costs.
- broker
- A person who buys and sells goods or assets for others.
- budget
- An estimate of income and expenditure for a set period of time.
- business plan
- Set of documents prepared by a firm's management to summarize its operational and financial objectives for the near future and to show how they will be achieved .
- business proposal
- A business proposal is a written offer from a seller to a prospective buyer.
- capital
- Wealth in the form of money or other assets owned by a person or organization or available or contributed for a particular purpose.
- cash flow
- The amount of money the company has on hand to pay of its operating expenses.
- chain store
- Two or more shops or outlets that have the same owner and sell similar lines of merchandise.
- company
- A business organization that makes, buys, or sells goods or provides services in exchange for money.
- consumer
- A person who buys goods and services.
- contract
- A formal agreement between two or more parties. A document that states the terms of such an agreement.The brand of law treating of contracts.
- cost
- To estimate the price of making a product.
- debt
- Something, typically money, that is owed or due.
- deposit
- A sum of money placed or kept in a bank account, usually to gain interest.
- dividend
- A portion of a company's money earnings which is paid to the shareholders or stockholders on a quarterly or annual basis.
- fee
- A form of payment for professional services.
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