Federal legislation requiring employers to check job applicants' papers to be sure they are either U.S. citizens or aliens authorized to work in the U.S.
A device that prints one or more characters at a time by physically impacting or hitting the ribbon to the paper.
The introduction of something new; a new idea, method, or device.
The information which is entered into a computer from an outside source. Data entered into a computer system for processing.
A mechanical unit designed to bring data to be processed into a computer.
Installment Credit (Closed End Credit)
Balance of costly goods paid for in small monthly (fractional) payments over a period of time.
Uneventful protection for the small business or small business owner in regards to monetary compensation in the event that a business and/or personal peril is experienced.
A type of asset that is not able to be physically touched but is retained by a small business because of its genuine value appeal.
A set of several different applications that have been programmed together, permitting data from one application program to be transferred directly to another.
The dependency of businesses on one another.
A job-analysis technique in which individuals currently holding a particular job are asked questions concerning the requirements of the job.
Those goods or stock of goods which are held for resale.
The number of times the average inventory has been sold or used up during a period.
An abbreviation for input/output.
A process for determining the critical components of a job for purposes of selecting, training, and rewarding Personnel
A document that lists the major responsibilities and tasks of the job.
A document that lists the knowledge, skills, abilities, and personal characteristics a job holder must possess to perform effectively.
A set of labeled keys (such as a typewriter) to permit the entry of data into the computer system.
Key-Person Life lnsurance
Life insurance that protects a firm against losses due to the death of a key employee.
K/KB; a measure of storage equal to 1,024 bytes or characters.
Instructions consisting of a series of numbers or a coded pattern of digits which convey information between people and machines.
Last-ln, First-Out (LIFO)
the most recently purchased goods are the first sold.
Insurance that covers business liability to customers or others who might be injured from the product sold to them.
Insurance that provides death benefits to the survivors of the insured.
Limited Liability Company (not corporation)
a new form of business ownership that combines the aspects of partnerships with the limited liability of a corporation; owners are known as members.
Line of Credit
An understanding between a bank and the business indicating the maximum amount the bank is willing to loan the borrower.
Liquidation Value Approach
The anticipated value of an asset that would be realized in case of liquidation of the business.
Local Area Network
LAN; a way of linking a number of computers (such as in an office) through communication lines so that they can share l/O devices and data.
A program written in the basic, simple instructions that the computer understands directly.
A central computer, usually applies to medium and/or large scale computer systems.
The art and science of motivating people toward the achievement of a goal.
A business that makes finished goods from raw materials by hand or machinery.
A reduction of selling price below the original selling price.
A group of potential customers possessing purchasing power and unsatisfied needs.
The process of planning and executing the development, pricing, promotion, and distribution of an organization's goods or services.
A study that is used by a business to determine where the potentiai customers are located.
Market Value Approach
An approach used in business valuation that determines value based upon previous sales of similar businesses.
The difference between merchandise cost and selling price, i.e., gross margin.
MB; refers to a memory size of 1,048,576 bytes.
An area for storage of data inside the computer. lt contains the programs and data being used by the computer. The primary storage or most accessible storage of the computer.
A business that purchases finished goods for resale.
A device which converts the electrical impulses (digital) produced by the computer into sound impulses (wave-like) and vice-versa which can be transmitted over telephone lines. An acronym for Modulate/Demodulate.
A device for displaying video images; see cathode ray tube and video display terminal.
A claim given by the borrower to the lender against the borrower's property in return for a loan.
A loan secured by a mortgage on property.
Energizing, channeling and sustaining people's behavior.
A device for interacting with a monitor.
Networking; a group of two or more computers linked together electronically that can communicate with each other.
New Venture Plan
A written description of a new idea that projects marketing, operational, and financial aspects of proposed business.
A printing device which places marks on paper without any mechanical device coming into contact with the paper.
Occupational Safety and Health Act (OSHA)
A governmental agency with the responsibility for regulatory and enforcement of safety and health matters for most United States employees; an individual state OSHA Agency may supersede the U.S. Department of Labor OSHA regulations.
The administration and supervision of office duties and functions.
Open End Credit (Revolving Credit)
A line of credit that may be used over and over again up to a certain borrowing limit.
A comparison of profit and each item of expense in the income statement expressed as a percentage of sales income; the operating ratios can be compared to the industry standards in regard to measuring the possible growth of the business.
A program that helps to overcome the problems involved in running a computer. lt makes sure that the proper programs are in the right place in memory at the right time, handles l/O operations, and allows the computer to work for long periods without the direct intervention of the operator.
To arrange or constitute in interdependent parts, each having a specific ftrnction or relation with respect to the whole; the way in which work is arranged and distributed among members of the firm.
The act of transferring data from a primary or internal storage device to a second or external storage device.
Any cost not specifically associated with production of identifiable products and services; expenses incurred in the normal operation of a business.
A form of legal organization in which a business association made up of two or more persons is formed for the purpose of carrying on as co-owners.
The registered right of an inventor to make, use, and sell an invention.
Personal Capital (Equity Capital)
Capital that is invested in the business by the owner(s).
That function of determining in advance what needs to be accomplished in order to achieve a particular goal.
Post-Need Service (Aftercare; Follow-Up Services)
Services provided by a funeral service organization that occur after final disposition.
Pre-Packaged/Horizontal Market Software
Software that is designed to be used by anyone who might benefit.
factors which influence prices.
The memory that is built into a computer.
A device that makes computer output visible on paper.
Handling or manipulating data.
Product Liability lnsurance
Insurance that protects a firm against claims that its product caused bodily injury or property damage to the user.
A set of instructions arranged in proper sequence which can direct the computer to perform a desired task.
The task of writing a series of instructions that will cause the computer to do something useful.
Random Access Memory (RAM)
The working memory of the computer. lt is the usable memory, which data or programs may be written to or read from.
Read-Only Memory (ROM)
Memory which has been manufactured with predetermined information or programs. Usually used to store the control program of the computer.
The process of forming a pool of qualified applicants for tasks that need to be filled.
Replacement Value Approach
The fair market price to purchase similar products in similar condition.
Written summary of one's personal, educational, and professional achievements.
a condition in which there is a possibility of an adverse deviation from a desired outcome that is expected or hoped for.
All efforts designed to preserve assets and earning power associated with a business.
A plan which provides inducements to potential purchasers of products and/or services.
Data storage that is outside the main memory of the computer, such as disks or tape units.
A form of risk management whereby a part of the firm's earnings is earmarked as a contingency fund for possible future losses, specifically for individual loss categories such as property, medical, or worker's compensation.
A business that provides a service as opposed to a product.
A business which is independently owned and operated and is not dominant in its field of operations.
Small Business Administration (SBA)
The principal government agency concerned with the financing, operation, and management of small businesses.
A computer's programs.
Sole Proprietorship (Proprietorship)
A legal form of organization whereby the business is owned and operated by one person.
A program for manipulating numbers in tabular form. A grid, somewhat like a ledger sheet, is displayed.
A program designed specifically for statistical calculations.
A device into which data can be entered and from which it can be retrieved at a later time.
Designed to be markedly larger and/or faster than an ordinary mainframe computer.
An organization of hardware and software designed to accomplish a data processing function.
A physical asset that possesses genuine value.
Term Life Insurance
Life insurance that has no cash value whenever the policy expires.
Total Quality Management (TQM)
the efforts of all members of an organization directed to ensure that quality in the production of goods and services is achieved.
A form of credit that is extended by one business to another business to help finance distribution of producer's goods.
An intangible asset that is a distinct name, sign, or symbol that the federal government grants exclusive rights to use for specified period of time.
Universal Life lnsurance
A combination of whole life insurance and term life insurance.
A program to do often needed tasks in managing the computer, but not an application for which the user bought the computer.
A cost which is uniform per unit, but fluctuates in total in direct proportion to change in the related total activity or volume.
Anyone that invests in, or financially sponsors, a new business.
Vertical Market Software
Software designed and marketed (sold) to a particular industry or profession, such as funeral service.
Video Display Terminal
VDT; see Monitor
Vietnam Era Veterans Readjustment Act
outlaws discrimination in employment against Vietnam Era veterans.
Wage and Hour Law
Fair Labor Standards Act (FLSA)
Outlaws discriminatory practices in pay; requires employers to pay a minimum wage to employees, and to pay a minimum of one and one-half tinres the regular rate for any hours beyond forty worked in a week.
Whole Life lnsurance
Life insurance that gives lifetime protection to the insured person.
The use of computerized equipment to create, store, recall, correct, and produce written documents.
The difference between current assets and current liabilities; the current asset items consisting of cash, inventories, and accounts receivable.