Family Business

Mom and Pop Store
A small retail store with limited capital, typically employing family members, and often characterized by personalized customer service and unique product offerings.
Nepotism
Nepotism refers to the practice of favoritism towards one's family, typically manifested in employment and economic transactions. This behavior often results in family members receiving preferential treatment in hiring and business operations.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.