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Small Business Encyclopedia
A financial statement that lists the assets, liabilities and equity of a company at a specific point in time and is used to calculate the net worth of a business. A basic tenet of double-entry book-keeping is that total assets (what a business owns) must equal liabilities plus equity (how the assets are financed). In other words, the balance sheet must balance. Subtracting liabilities from assets shows the net worth of the business A basic tenet of double-entry bookkeeping is that total assets (what a business owns) must equal liabilities plus equity (how the assets are financed). In other words, the balance sheet must balance.
A legal state of insolvency. A company deemed to be in this condition may choose protection under the law to allow a chance to reorganize (Chapter 11) or liquidate in an orderly fashion (Chapter 7).
A guarantee of performance required, either by law or consumer demand, for many businesses, most typically general contractors, temporary personnel agencies, janitorial companies and businesses with government contracts
An organization designed to accelerate the growth and success of entrepreneurial companies through an array of business support resources and services that could include physical space, capital, coaching, common services, and networking connections
Insurance coverage that protects a business in the event of natural disaster, fire or other extenuating circumstances that affects the ability of your company to conduct business
The name by which people know your business. Different from your dba--which is the legal name you register for your business, this is the name you'd use to advertise and sell your products and services.
Legal definitions vary; in its simplest terms, a business opportunity is a packaged business investment that allows the buyer to begin a business. The Federal Trade Commission and 25 states regulate the concept.