Finance Basics
This term refers to money set aside for unexpected expenses.
An emergency fund
A restaurants prime cost consists of these two major expenses
food and labor
This individual is the person who starts and runs a business, often taking on financial risks in the process.
Entrepreneurs
What is the average income of someone that just graduated with a bachelor's degree?
60,000
What do you call interest that is earned on the initial principal and previously earned interest?
Compound interest
Name two careers that DECA prepares students for.
Marketing, finance, Hospitality, and management
four basic functions of management are planning, organizing, leading, and this
controlling
______________________ communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea
Advertising
What is Ms. G's favorite color?
Blue
What is a retirement savings account with tax advantages, commonly offered by employers called?
401(k)
What year was DECA founded?
1946
In customer service this principal suggests that the first few seconds of guest interaction can shape their entire experience
The first impression principle
This term refers to the total amount of money a business makes before deducting expenses.
Revenue
Joe is a salesperson who will sometimes forgo a sale in order to satisfy a customer’s needs. Carol always attempts to close a sale at all costs. Who is most likely to be the more successful salesperson?
Joe because he will get more repeat business
This type of investment often involves buying a company's shares in hopes of profiting from its growth.
Stock
What state was the first FBLA chapter established in?
(hint: country music capital )
Tennessee
What is the term for a company's plan for managing its resources to achieve its goals?
Business strategy
This term describes when two or more companies combine to form one larger company
merger
Who is our DECA president?
NICHOLE XUE :)
The financial ratio, calculated as current assets divided by current liabilities, measures a company's short term liquidity.
Current ratio
What is the year that FBLA was founded?
1940
A leadership style that encourages team members to participate in decision making
democratic leadership
A legally binding agreement between two or more parties is called a...
Contract
When is Mrs. Mellon's half birthday?
October 2nd