| A | B |
|---|
| business plan | A written description of the business idean and how it will be carried out, including all major business operations |
| long-term financing | Money needed for the important resources of a business |
| short-term financing | The amount of money needed to open the business |
| start-up financing | The money needed to pay for the current operating activities of the business |
| base plus incentive | A system that combines a small wage or salary with an additional amount determined by performance |
| benefits | Compensation in form other than direct payment for work |
| commission | A system that pays the employee a percentage of the sales for which he or she is responsible |
| compensation | The amount of money paid to an employee for work performed |
| full-time employee | An employee who works a schedule of at least 30 hours a week |
| human resource management | Ensuring that needed employees are available, that they are productive, paid, and satisfied with their work |
| human resources | The people who work for the business |
| part-time employees | An employee who works less than full-bime employees by working either fewer hours each day or fewer days each week |
| permanent employee | An employee that has a long-term commitment to a company |
| piece rate | A compensation plan that pays the employee a specific amount for each unit of work produced |
| profit sharing | An incentive plan in which employees receive their regular compensation plus a share of the profits earned |
| salary and wages | Direct payment to an employee for work completed |
| straight salary | A specific amount of money paid for each week or month worked |
| temporary employee | An employee hired for a specific time or to complete a specific assignment |
| time wage | A wage that pays the employee a specific amount of money for each hour worked |
| business budget | A planning tool used to anticipate sources and amounts of expenses for a specific business activity or the entire business |
| cash budget | An estimate of the actual money received and paid out for a specific time period |
| financial records | Used to record and analyze the financial performance of a business |
| financial statement | Reports that summarize the financial performace of a business |
| income statement | Reports the revenue, expenses, and net income or loss of a business for a specific period of time |
| operating budget | Describes the financial plan for the day-to day operations of a business |
| start-up budget | Used to plan income and expenses from the beginning of a business until it becomes profitable |
