Business Management Glossary Hello, I am a student in Business Management and here is a glossary related to my field of study that could help. bankrupt adjective When a person or organization declared in law is unable to pay outstanding debts. Example: The company went bankrupt after not being able to pay its debts. fr: faillite Your browser does not support the audio element. budget noun An estimate of income and expenditures for a set period of time. Example: Each enterprise is carefully monitored, compared to the budget, compared to last years performance and discussed at board meetings about short term and long term plans for each enterprise. fr: budget Your browser does not support the audio element. company noun A business organization that makes, buys, or sells goods or provides services in exchange fo...