This is an activity directed at satisfying needs and wants through an exchange process.
What is marketing
100
A place where goods and services are bought and sold is called a ______________
What is market
100
Ethical decisions are based on reason rather than emotion.
What is true
200
What is a single business where two or more people share ownership?
What is a Partnership
200
Assets = Liabilities + Owners’ Equity is also known as what?
What is the accounting equation
200
This is what you are offering to your target market, be it a tangible product or a service.
What is product
200
An activity that someone does for you, usually for a price and to satisfy a want is called a _________
What is a service
200
Ethics values one person or group more than another.
What is false
300
Which form of corporation enables the company to enjoy the benefits of incorporation but be taxed as if it were a partnership?
What is a S Corporation
300
This tells you whether the company is profitable or not. It involves the revenues, or the money that the company earned, and the expenses; the money that was spent to earn those revenues.
What is income statement
300
This is the amount you will charge for your product.
What is price
300
A business makes a _______________ if its sales are greater than its expenses
What is a profit
300
Consequence based reasoning says that lying usually produces good consequences.
What is false
400
Which form of corporation is a legal entity that exists separately from its owners and is taxed as a separate entity?
What is a C Corporation
400
This is a report that shows a company’s assets, liabilities, and owner’s equity at a given point in time.
What is a balance sheet
400
The channels your product will go through to reach the customer.
What is place
400
Who is the person that buys the product/service?
What is a consumer
400
Deciding what is right or wrong in a reasoned, impartial manner.
What is ethics
500
Which business structure combines various aspects of a partnership and a corporation?
What is a Limited Liability Company (LLC)
500
This is a report that shows how a company’s cash has changed during a specific time interval.
What is a cash flow statement
500
How you raise awareness with your target market.
What is promotion
500
A share of ownership in a public company is called a _____________
What is a stock
500
Applying the same ethical standards to all persons or groups.