Business Basics
A measure of how much you gain from an investment compared to its cost, usually shown as a percentage.
What is return on investment (ROI)?
In accrual accounting, revenue is recorded when it is ____ rather than when cash is received.
What is earned?
Deloitte provides_________ to clients
What is professional services and solutions?
This interview format asks you to answer using Situation, Task, Action, Result.
What is the STAR method?
This is a short, simple statement explaining why a company exists.
What is a mission statement?
The total money a business brings in from selling goods or services before expenses are subtracted.
What is revenue?
These two financial statements are linked by net income flowing into retained earnings.
What are the income statement and the balance sheet?
True or False: Deloitte only hires accounting majors
What is false?
A networking follow-up sent within 24 hours to thank someone and reference a specific conversation point.
What is a thank-you email (thank-you note)?
This shows the step-by-step actions someone takes to complete a task (like buying something online).
What is a process?
A measurable metric used to track progress toward an important business goal (like on-time delivery rate or customer churn).
What is a key performance indicator (KPI)?
Something a company owns that has economic value, like cash, equipment, or patents.
What is an asset?
The people you work with most closely on a project are often called your project ____.
What is a team?
A short pitch introducing who you are, what you do, and what you’re seeking.
What is an elevator pitch?
These are the individuals or groups with interest, influence, or impact on the initiative’s outcomes.
Who are stakeholders?
This one-page summary explains how a company makes money and what it spends.
What is an income statement (profit and loss statement)?
The money a business has left after subtracting all costs and expenses from revenue.
What is profit?
A quick check-in with your manager to review progress and next steps.
What is a 1:1 (one-on-one) meeting?
A professional document that highlights your experience, skills, and education for recruiters.
What is a resume?
This sets the project boundaries by specifying what’s in and what’s explicitly out.
What is scope?
The “time value of money” idea that a dollar today is worth more than a dollar tomorrow because of this.
What is the ability to earn interest (opportunity cost of capital)?
True or False: Accounting is only math.
What is false?
The process used to formally evaluate risks and decide how to reduce them.
What is risk assessment?
Skills you can use across many jobs and industries—like communication, teamwork, and problem-solving.
What are transferable skills?
This defines how work gets done end-to-end—covering roles, processes, enabling tech, and how decisions and controls operate.
What is an operating model?