Business terminologies

1. ASSETS– Property that has value owned by a company.

2. COPYRIGHT- The exclusive legal right, owned by the individual or group who created a work. To use certain material and to allow others the right to use the material.

3. FISCAL YEAR- Also known as a financial year, the fiscal year is a set period used to calculate financial statements.

4. MERGER- When two or more companies are combined into one.

5. NET- The amount of profit remaining after deductions such as tax have been made.

6. QUOTA- This is a limit set by a government on how much of a product can be imported or exported.

7. TRADEMARK- A logo, brand name or phrase legally registered by one company to represent them.

8. TAKEOVER- The buying out of one company by another.

9. HYPERINFLATION- This is inflation that is rapid or out of control. It usually only occurs during wars or during severe political instability.

10. AUDIT- An official inspection of a company’s or individual’s accounts.

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