Vocabulary
Business Professionals of America
Marketing
Business/Economics
Accounting/Finance
100
A form of business organization defined as an association of two or more persons operating as co-owners.
What is partnership?
100

This is the highest-ranking officer role in a BPA chapter, responsible for overseeing all operations and leading the team.

What is the president?

100

A mission statement is

A formal summary of the aims and values of a company, organization, or individual

100

The primary goal of all businesses

What is to earn profit

100

One of the three financial statements

What is Income statement, Balance sheet, or cash flow

200
Two companies combining to form a new company.
What is a merger?
200

This national event brings together BPA members from across the country to compete and develop leadership skills.

What is the National Leadership Conference (NLC)?

200

The SWOT Analysis

What is Strengths, Weakness, Opportunities, Threats



200
A good or service with tangible and intangible characteristics that provides satisfaction and benefits.
What is a product
200

The process of reviewing and verifying a company's financial records to ensure accuracy.

What is an audit

300
A person who organizes and manages any enterprise, usually with considerable initiative and risk.
What is a entrepreneur?
300

This is the name of BPA's torch program, where members earn recognition by completing activities in various leadership categories.

What is the Torch Awards Program?

300

The controllable aspects of a marketing strategy

What is the marketing mix or the four P's


Bonus: The four P's are_____


300
The study of how resources are distributed for the production of goods and services within a social system
What is economics
300

The process of distributing the cost of a long-term asset over its useful life.

What is depreciation

400
A written description of a new business venture that describes all aspects of the business.
What is a business plan?
400

BPA members can compete in a variety of categories, including finance, management, and this other technology-focused area.

What is information technology?

400

During what era did companies shift towards consumer orientation.

A) Relationship Era

B) Marketing Era

C) Production Era

D) Sales Era

What is the Marketing Era

400
The funds used to acquire the natural and human resources needed to provide products.
What is capital
400

The three accounts that are on the balance sheet

What are assets, liabilities, and shareholder/owners equity

500
Rivalry among businesses.
What is competition?
500

BPA was founded in this year to provide professional development and leadership opportunities for students pursuing careers in business.

What is 1966?

500

Customer Value Equation

What is perceived benefits / price

500
An economic system in which the government owns and operates basic industries but individuals own most businesses.
What is socialism
500

This profitability ratio is calculated as net income divided by total revenue

What is the profit margin

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