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Small Business Management
Human Resources
Finances
Budgeting
Miscellaneous
100
A written description of the business idea & how it will be carried out, including all major business activities.
What is a business plan?
100
The definition of human resources.
What are the people who work for a business?
100
3 types of financing.
What is start-up financing, short-term financing, & long-term financing?
100
Another word for income
What is revenue?
100
Used to record & analyze the financial performance of a business.
What is a financial record?
200
What it takes to be a small business owner.
What is skill in management, finance, marketing, & other business activities and the put forth of effort?
200
The number of hours an employee at least has to work per week to be classified as full time.
What is 30 hours?
200
The money needed to pay for the current operating activities of a business.
What is short-term financing?
200
2 purposes of a Business Budget
What is to anticipate sources & amounts of income and to predict the types & amounts of expenses for a specific business activity or the entire business?
200
Financial Statements
What are reports that summarize the financial performance of a business?
300
The percentage of women small business owners.
What is 40%?
300
4 parts of human resource management.
What is categorizing human resources (staffing), determining employee qualifications, locating new employees, & hiring a new employee?
300
Type of financing that require large amounts of money & will be paid for over a number of years.
What is long-term financing?
300
3 types of budgets
What is start-up budget, operating budget, & cash budget?
300
One of the most important financial responsibilities of a small business owner is this.
What is maintaining a payroll?
400
4 step process for starting a small business
What is an idea, right place & time, team approach, & preparation & research?
400
The 2 parts that Compensation is made up
What are salary/wages & benefits?
400
Money needed to start & operate a new business usually comes from a combination of these 2 things.
What is owner-supplied & borrowed funds?
400
The type of budget that describes the financial plan for the ongoing operations of the business.
What is an operating budget?
400
3 examples of financial records.
What is cash records, records of accounts, inventory records, payroll records, or asset records?
500
3 steps in developing the business plan
What is gathering & reviewing information, developing the "game plan," & writing out the plan?
500
Profit Sharing
What is when employees receive their regular compensation plus a share of the profits earned by a company?
500
Financial statement that reports the revenues, expenses, & net income or loss from business operations for a specific period of time.
What is an income statement?
500
4 fundamental steps in budgeting
What is to prepare a list of each type of revenue & expense, gather accurate info from business records & other sources for revenue & expenses, create the budget of revenue, expenses, & net income/loss, & then show/explain the budget to others who need financial info to make decisions?
500
Piece Rate
What is a pay-for-performance plan where an employee receives a specific amount for each unit of work produced?