Accounting and Finance
What does ROI stand for in finance?
Return on Investment
What does SWOT analysis stand for?
Strengths, Weaknesses, Opportunities, and Threats
What does SCM stand for?
Supply Chain Management
A decline in a country’s GDP for two consecutive quarters
Recession
In 2021, this tech billionaire became the world’s richest person after his company’s stock skyrocketed.
Elon Musk
What is the accounting equation?
Assets = Liabilities + Owner's Equity
What are the 4 Ps of marketing?
product, price, place, and promotion
What is the practice of storing inventory in various locations to improve access to products called?
Inventory management
As the price of a good or service increases, the quantity demanded tends to do what?
Decrease
This reality TV show features aspiring entrepreneurs pitching their business ideas to a panel of investors, hoping for a deal.
Shark Tank
What does GAAP stand for?
Generally Accepted Accounting Principles
What are the four principal functions of management?
Planning, Organizing, Leading, Controling
What is the term for the practice of outsourcing production to another company or country?
Offshoring
What is the term for the cost of forgoing the next best alternative when making a decision?
Opportunity Cost
In The Wolf of Wall Street, Leonardo DiCaprio portrays this infamous stockbroker known for his fraudulent schemes
Jordan Belfort
What is the primary financial statement used to assess a company’s profitability?
Income Statement
What term is used to describe marketing strategies tailored to small groups or even individual consumers?
Niche Marketing
What inventory management method involves stocking just enough inventory to meet immediate needs?
Just-In-Time (JIT) inventory
This federal agency ensures fair competition and protects consumers
Federal Trade Commission (FTC)
In 2021, retail traders from Reddit’s WallStreetBets caused the stock price of this struggling video game retailer to skyrocket, shocking Wall Street.
GameStop
What is the name of the document that lists a company’s assets, liabilities, and equity at a specific point in time?
Balance sheet
What is the term for a specific group of consumers a company aims to reach with its product?
Target market
What is the name of the rigorous statistical analysis process that reduces defects in manufacturing and service-related processes?
Six Sigma
If the price of coffee rises, what is likely to happen to the quantity demanded for coffee, assuming all other factors remain the same?
The quantity demanded for coffee will decrease.
In 2018, Kylie Jenner made headlines by selling beauty products directly through this e-commerce platform instead of traditional retail stores
Shopify