| A | B |
|---|
| Sole Proprietorship | completely owned by one person |
| Partnership | a legal arrangement in which two or more people share ownership |
| Corporation | business run by a state that legally operates apart from the owners |
| Operating Expenses | the costs of doing business |
| Income Statement | shows how much the business has earned or lost |
| Revenue | income from sales |
| Net Profit | the amount left after operating expenses are subtracted from the gross profit |
| Financial Plan | spells out your start-up costs, operating expenses, and other costs for the first few months |
| SCANS | reading, writing, math, listening, and speaking skills |
| Business Discription | gives specific information about your business |
