One-time costs for things like signage, equipment, and office furniture.
What are start-up costs?
100
Expenses that remain constant from month to month and do not change with volume or activity.
What are fixed expenses?
100
The strategic plan is intended to focus on a _____ to _____ year period.
What is 3 to 5?
100
The point at which you meet fixed and variable costs.
What is the breakeven point?
100
An association among two or more people who are personally liable for the debts of the business and are subject to passthrough taxation.
What is general partnership?
200
Small Business Administration loans are administered by ________.
What are local banks?
200
The amount of work one employee is expected to complete in a normal 8-hour work day.
What is full-time equivalent (FTE)?
200
Methods selected to achieve goals and objectives.
What is a strategy?
200
A financial statement that reports the revenues and expenses for a specific period of time.
What is an income statement?
200
A tax status intended for organizations that provide goods and/or services with the goal of making money for the owners or stakeholders.
What is for-profit?
300
For start-up loans, the Small Business Administration requires that you supply ________ of the money you need for starting the business.
What is one-third?
300
A forecast of your revenue and expenditures.
What is a budget?
300
The basis for any organization's strategic plan.
What is mission statement?
300
The amounts that your clients, insurance companies, and federal or state funding programs owe you.
What is accounts receivable?
300
The most common form of legal structure for small companies in which the owner is fully liable for all risk.
What is sole proprietorship?
400
Nonprofit healthcare organizations and community-based programs are frequently eligible for this type of funding.
What is a grant?
400
A unit of service is typically measured in ____ minute time periods.
What is 15?
400
An external condition providing potential for organizational sustainability and growth.
What is an opportunity?
400
The method of accounting that records income and expense at the time they are incurred.
What is accrual-based accounting?
400
A newer form of legal structure that allows owners the personal liability protection of the corporation, passthrough taxation, and operational flexibility of a partnership or sole proprietorship.
What is limited liability company (LLC)?
500
Tangible business items that have a useful life of 1 year or longer and cost more than $1000.
What is capital expenditure?
500
The scale most commonly used to determine reimbursement rates for physician-driven Medicare services.
What is relative value unit (RVU)?
500
A step in the strategic planning process that identifies and examines an organization's internal and external environments.
What is SWOT analysis?
500
The movement of actual income and expenses in and out of your organization over a period of time.
What is cash flow?
500
This type of organization must retain money earned and use it for expenses, operations, and programs.