key terms

• Asset: Something of value that can be used to generate income or reduce costs.
• ASX: AUSTRALIAN STOCK EXCHANGE
• Australian Consumer Law: Consumer rights, including the right to a refund, replacement or repair.
• Budget: A document that outlines the financial plans for a business for a specific period of time.
• Business: A company or organization that produces goods or services for sale in the marketplace.
• Business Plan: A document that outlines the businesses objectives, strategies, and financial requirements.
• Capital/equity: The money invested in a business by its owners, or by other investors
• communication: the process of sending and receiving messages, information, and ideas between two or more people
• company: a business that owns and operates a business.
• Cost: (of an object or action) require the payment of (a specified sum of money) before it can be acquired or done
• Entrepreneur: An individual who organizes and manages a business or businesses.
• Equal Opportunity Act: 1972, prohibited discrimination in employment on the basis of race, sex, religion, and national origin
• Expense: the cost incurred in or required for something
• For Profit Business: A business that aims to make a profit for its owners.
• Franchise: A business that is granted the right to use a brand name or trademark.
• Franchisee: an individual or company that has been granted the right to operate a business under the name of another business
• Franchisor: The company that grants the franchise to a franchisee.
• Goodwill: The ability of a company to generate super-profits in the future.