Business Life Cycle
This is the entrepreneur-in-the-garage stage.
What is startup
The main objective of any business
What is profit
The most basic record-keeping tool is the_______ _________. It simply records both revenues and expenses during a stated period of time—usually a month, a quarter, or a year—and shows the difference between them.
What is the profit and loss statement (P&L).
Financing in which an entrepreneur funds a business with money from his or her own _______ retirement account.
What is an 401(k) retirement
The practice of employing children under a certain age as determined by law.
What is child labor
Your product has taken off. You are seeing a sharp increase in sales, and you’re making a small profit.
What is growth
The money a business receives when it sells a product or service.
What is revenue
The structure of a P&L is similar to a
What is a filing cabinet
A long-term loan from the Small Business Administration.
What is a 504 loan
The integration among people, companies, and governments across geographical boundaries.
What is globalization
The rapid growth in sales has leveled out, and you are now focused on maintaining your market share and making profits.
What is maturity
The expense required to acquire or produce something
What is cost
While the P&L is a running record of a company’s financial history, the ______ ________ is a snapshot of a company’s assets and liabilities at a given point in time—usually at the end of a month, quarter, or fiscal year
What is a balance sheet
Investors who use their own money as start-up capital for a business, usually in exchange for a share of ownership.
What is an angel investor
The unlawful act of transporting or coercing people in order to benefit from their work or service
What is human trafficking
Let’s say that you have decided to try to sell your company. If you cannot sell you must
What is liquidate or liquidation
A measure of a company’s profitability, usually measured as a percentage
What is profit margin
_____ _____ _______ records the movement of actual cash in and out of a company for a stated period of time, usually a month, a quarter, or a fiscal year. Rather than tracking assets and liabilities, or even revenue and expenses, the _____ ______ _______ tracks everything that brought money into a company and everything that used money.
What is the cash flow statement
CDFIs stands for
What is community development financial institutions
When companies reduce costs by transferring portions of work to outside suppliers rather than completing it internally.
What is outsourcing
The life cycle of a business
What is startup, growth, maturity, decline and cessation
Risk is involved at every stage of a business. Even if the production process goes fine, there can still be a risk associated with the product or service itself. Say, for example, the special oven you use to make your cupcakes emits toxic fumes—you could get sued. What is this know as
What is the social consequences of production
A cash flow statement is broken up into three sections:
What is operations, investing, and financing
A company’s offering of stock, limited to $1 million or less, directly to investors on a crowdfunding website.
What is direct public offering (DPO)
A basic substance required for all living organisms. Without it, human health inevitably fails.
What is clean water