DEFINITION
A federal legal process designed for businesses that are unable to pay their debts
What is Bankruptcy
TRUE OR FALSE: Indirect Competitor's sell similar products / services as you.
FALSE
Jane creates an AD to promote her bakery. What is this an example of?
What is Marketing
Total income produced by a product or service
A.) Assests
B.) Profit
C.) Revenue
C.) Revenue
A moment when a business total revenue equals its total cost resulting in zero loss in money.
What is Break-Even Point
TRUE OR FALSE: Retailers sell small quantities of their product
Roxy sells her products in large quantities, mostly to retailers. What is this an example of?
What is Wholesalers
What is a business plan?
A.) The amount of money you start with when starting a business
B.) Overview of your business goals and plans to achieve them.
C.) The quality of being liable and trust-worthy
B.) Overview of your business goals and plans to achieve them.
the difference between a business’ current assets (cash, inventory) and current liabilities such as short-term debts.
What is Working Capital
TRUE OR FALSE: The 4 P's of marketing are Product, Promotion, Paying and Policy.
FALSE. Paying and Policy are NOT one of the 4 P's of marketing.
Jake makes an estimate of income for a set period of time. What is this an example of?
What is a budget
What is a unit of sale?
A.) A small basic unit sold a consumer
B.) Promoting and selling a product or service
C.) A summary of your whole business idea
A.) A small basic unit sold a consumer
Consistent business expenses that do not change such as salary, rent, and insurance.
What is Fixed Operating Expenses
TRUE OR FALSE: To be an entrepreneur you must be liable.
TRUE
Dirk gets money to start a business. What is this an example of?
What is Start-Up Captial
What is a Corporation
A.) A separate legal business entity that is owned by stockholders
B.) A business owned by multiple people
C.) A group of consumers who are most likely to buy your product
A.) A separate legal business entity that is owned by stockholders