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Intro to FFA and SAE Vocabulary

AB
Enterprisea project undertaken or to be undertaken
Inventorya complete listing of merchandise or stock on hand
EntrepreneurA person who organizes, operates, and assumes the risk for a business venture
PlacementWorking for someone else
Depreciationdecrease in value
IncomeThe amount of money received during a period of time in exchange for labor or services
Expensecost or charge
Liabilitymoney owed
Asseta single item of ownership having exchange value
Leaderindividual who influences others
Goalthe result or achievement toward which effort is directed
Visionthe act of anticipating what may become
Agreementan arrangement that is accepted by all parties to a transaction
Accounta formal record of the debits and credits relating to the person
CapitalMaterial wealth used or available for use in the production of more wealth
Gross Earningsearnings made before taxes are taken out
Net Earningsearnings made after taxes are taken out
Quorumthe number of members of a group or organization required to be present to transact business legally
Motiona proposal formally made to a deliberative assembly
Secondto express formal support of
Valuesthe ideals, customs, institutions, etc., of a society
Self-Imagethe idea, conception, or mental image one has of oneself
Charactermoral or ethical quality
Marketingthe total of activities involved in the transfer of goods from the producer or seller to the consumer

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