Business Basics
A person who buys goods or services.
What is a consumer?
The group of customers a business wants to sell to.
What is a target market?
Anything a business owns that has value.
What is an asset?
The box where a row and column meet in a spreadsheet.
What is a cell?
A collection of organized information.
What is a database?
The activity of producing, buying, or selling goods and services.
What is business?
The paid promotion of a product, service, or business.
What is advertising?
Money a business owes to others.
What is a liability?
A calculation in Excel that usually starts with an equals sign.
What is a formula?
A single category of information in a table, such as first name or price.
What is a field?
Something physical that a business sells, like a phone or shoes.
What is a good?
The four main parts of marketing: product, price, place, and promotion.
What are the 4 Ps?
The owner’s claim on the assets of a business after liabilities are removed.
What is owner’s equity?
The Excel function used to add a group of numbers.
What is SUM?
One complete set of information in a database table.
What is a record?
Work done for someone else, like haircuts, cleaning, or repairs.
What is a service?
A short phrase used to help people remember a brand.
What is a slogan?
The financial statement that shows assets, liabilities, and owner’s equity.
What is a balance sheet?
The letters across the top of a spreadsheet.
What are columns?
A question used to search, sort, or filter information in a database.
What is a query?
The amount of money left after expenses are subtracted from revenue.
What is profit?
The image, name, symbol, or design that identifies a business.
What is a brand?
The accounting equation used to keep records balanced.
What is Assets = Liabilities + Owner’s Equity?
A visual display of data, such as a bar graph or pie graph.
What is a chart?
A database object used to display information in a clean printed format.
What is a report?