Exam Review #1
What is an Angel Investor?
An investor who provides funding to a business for a stake in the business in return.
What is an Asset?
A tangible item a business owns.
What is B2B?
commercial transaction between businesses.
What is B2C?
commercial transaction between a business and a customer
What is a Balance Sheet?
A financial statement that reports assets, liabilities, and owner's equity on a specific date.
What is Bootstrapping?
starting a business without external help or capital
What is the Break-Even Point?
The point where a business's revenue matches its expenses over a given period.
What is budget?
The amount of money a business plans on spending during a given period.
What's a Business Opportunity?
A situation an entrepreneur analyzes and evaluates to see if starting a sustainable, profitable business is feasible.
What is a Business Plan?
A document that addresses the concept, customers, and capital for a business.
What is C Corporation?
A business structure that allows the company to pass its income, losses, deductions, and credits through its shareholders to decrease their taxation.
What's a CEO
Person who oversees a business's operations and resources and makes the major decisions for the company.
What's a CFO?
Person who oversees a company's finances.
What is commision?
A fee paid to an employee for completing a task.
What is Compensation?
A monetary amount given to employees in return for their work.
What is a COO?
A person who is responsible for overseeing the day-to-day administrative and operational functions of a business.
What is Crowdfunding?
The method of sharing a start-up business online to pre-sell products.
What is Copyright?
A form of protection individuals can implement to protect their intellectual prop erty; designated for print, music, film, and various other forms of creative licenses.
What's a Customer?
An individual or business that purchases goods and services from a business.
What is Customer Acquisition Cost?
The total cost of acquiring a new customer.
What is Customer Retention Cost?
The total cost to retain existing customers. dividing the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation
What is a distribution channel?
A method used to get a product from the manufacturer to the end-users.
What is an Employee?
An individual hired by a company and compensated for their work
An individual who aspires to start and run a successful business.
What is Equity?
the value that would be returned to a company's shareholders if all of the assets were liquidated and all of the company's debts were paid off