____________________ Is When an Intermediary from an Industry, Such as the Traditional

question 83

Short Answer

____________________ is when an intermediary from an industry, such as the traditional travel agencies, is no longer needed for the consumer to obtain the goods and services from the industry.

Comprehend the components and legal implications of franchising.

Identify the responsibilities and liabilities of partners in a partnership.

Distinguish between various business entities regarding formation, operation, and dissolution.

Understand the concept of limited liability and how it protects business owners.

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Definitions:

Held-to-Maturity Debt Securities

Investments in debt securities that a company has the positive intent and ability to hold until maturity.

Financial Statements

Compiled reports that provide an overview of a business’s financial condition, including income statement, balance sheet, and cash flow statement.

Return on Total Assets

A profitability ratio that measures the net income produced by total assets during a period by comparing net income to the average total assets.

Performance

Refers to the act of carrying out or accomplishing an action, task, or function.