A
states that money available now is worth more than the same amount in the future due to its earning capacity and inflation
What is time value money?
You own a pizza business. You sell 1,000 pizzas, and your supply costs are $4,500. If the cost of supplies increases by 10%, what is the new cost of your supplies?
What is $4,950?
What is typically the largest expense for a business?
What is Labor (Payroll and Benefits)?
A business function handles hiring, firing, and recruiting people.
What is Human Resources (HR)
How does a social media presence benefit a company?
It helps a company build brand awareness, connect with customers, promote products or services, and increase sales.
measures the revenue or profit generated from a specific marketing campaign relative to the money spent on it.
What is Return of Investment (ROI)?
The difference between a fixed cost and a variable cost
Fixed costs stay the same regardless of how much a company produces, while variable costs change based on the volume of goods or services created
The most important thing to include when posting a job offer.
What is Job Description (Duties/Responsibilities)?
Private individuals or groups of investors seeking to make a profit
What is a private enterprise?
You charged a customer double for a product that totaled $39.90. You need to refund the customer the extra amount charged. Calculate the refund amount.
What is $19.95?
Tom gives bonuses based on employee performance. His friend John is struggling financially, but Pamona is performing better and is in a stronger financial position. Who should Tom give the bonus to?
What is Panoma?
What is the maximum amount of money the FDIC insures per depositor?
What is $250,000?
The agency protects employees' safety in the workplace.
OSHA
The main difference between a secured loan and an unsecured loan
What is Secured loans require collateral, such as a house or car, while unsecured loans do not
You are on your way to an important meeting with a client and realize you are lost. What should you do?
What is contact the client, apologize for the delay, explain the situation, and provide an updated arrival time?
An HR employee has to hire a man's son in order for the man's brother to receive a contract. What is this an example of?
What is conflict of interest?
What does the FDIC fund?
What is saving and checking?
Which government agency helps entrepreneurs start and manage small businesses?
What is Small Business Administration (SBA)
Interest calculated on the principal plus any accumulated interest from previous periods
What is compound interest?
A company sold customer data information. Is this unethical or illegal?
What is unethical?
Ethics provides the moral basis for many laws, but something can be legal while still being considered unethical
What is the relationship between ethics and law?
A store has 24 products in stock. If ⅛ of the products are on clearance, how many products are on clearance?
3
Promoting marketplace trust by rating businesses and facilitating dispute resolution between consumers and companies
What is Better Business Bureau?
The total cost a business pays to purchase and prepare an asset for use, including the purchase price
What is asset acquisition cost?
When the price of a product increases, consumers usually buy less of it, assuming other factors stay the same. What is this relationship called?
What is the Law of Demand?
The long-term aspirations and the future state the organization hopes to achieve
What is vision statement?
The organization's core purpose, including what it does, who it serves, and how it provides value today
What is the company's mission statement?
Why is maintaining a strong brand reputation important for a business?
It builds consumer trust, which leads to higher customer loyalty, better talent recruitment, and increased market value
Which trait is considered the most effective when handling difficult or high-pressure situations with customers?
What is Emotional Control?