What is Questions
What is an income statement
A financial document showing a business’s revenues, expenses, and profit or loss over a period.
Define Stockholders
Individuals or entities that own shares in a corporation.
Define professionalism
Conducting oneself with responsibility, integrity, accountability, and excellence in the workplace.
What is an organizational chart
A diagram that shows the structure of an organization and the relationships between roles.
What is the accounting equation?
Assets=Liabilities+Owner’s Equity
Define a logo
A visual symbol or design used to identify a business or brand.
Define target market
A specific group of consumers a business aims to reach with its products or services.
What is the executive summary in a business plan
A brief overview of a business plan, summarizing key points like business concept, financial highlights, and goals.
What is strategic planning?
The process of setting long-term goals and defining strategies to achieve them, aligning resources and actions with the organization's mission and vision
Define an “entrepreneur.”
A person who starts, organizes, and manages a business venture, taking on financial risks in hopes of profit.
Define a business permit
Official approval from a local, state, or federal agency to operate a business legally.
What is marketing
The process of promoting, selling, and distributing a product or service
What is a balance sheet?
A financial statement showing a company’s assets, liabilities, and owner’s equity at a specific point in time.
Define the Small Business Administration
A U.S. government agency that supports small businesses through loans, counseling, and assistance programs.
Define employability skills
Core competencies needed to be successful in the workplace, such as communication, teamwork, problem-solving, and reliability.
What is a premium as it relates to insurance
The amount paid (monthly or annually) to maintain insurance coverage.
What is a Budget?
A financial plan outlining expected income and expenses over a specific period.
Define a non-profit organization
An organization that operates for purposes other than making a profit, such as charitable, educational, or social causes
Define accounts receivable
Money owed to a business by customers for goods or services delivered but not yet paid for.
What is business insurance
Coverage that protects businesses from losses due to events like property damage, liability claims, or employee injuries.