Distribution
What is the prediction of the amount of future sales your company expects to achieve over a certain period of time called?
Revenue Stream
Gross Sales
Sales Forecast
Sales Forecast
Good Leaders adjust their leadership style depending on the situation.
True
False
True
What is the financial document that summarizes assets and liabilities of a business called:
Income statement
Balance Sheet
Cash Flow Statement
Balance Sheet
Small businesses are exempt from all government regulations.
True
False
False
What type of plan lays out a broad course of action to achieve a long-term goal, typically three to six years in the future.
Strategic Plan
Marketing Plan
Financial Plan
Strategic Plan
Which of these is NOT a type of inventory management system?
Perpetual Inventory
Periodic Inventory
Just in Time Inventory
Cycle Inventory
Cycle Inventory
A type of of business structure has a single individual that owns the business, collects all profit, and has unlimited Liability
Sole Proprietorship
Which statement is FALSE.
A. An advantage for a corporation is that its owners have limited liability.
B. Markup is the price increase imposed by each link in a distribution chain or channel
An advantage for a corporation is that its owners have limited liability.
A wholesaler might sell products at a store or over the internet.
True
False
False
Software accounting systems can prepare financial statements automatically.
True
False
True
A financial document that summarizes a business's income and expenses over a given time period and shows weather the business made a profit or took a loss is called:
Sales Forecast
Income Statement
Balance Sheet
Income Statement
What is the point at which the business has sold exactly enough units for sales to cover expenses.
Break-Even point
Burn Rate
Break-Even point
Choosing appropriate vendors to supply desired business goods or services is called:
Purchasing
Procurement
Procurement
Asset
A ______ defines the structure of the company and shows which employees report to which managers.
Flow chart
Organizational Chart
Business Plan
Workflow
Organizational Chart
Which of the following statements are FALSE.
A. Growing a business involves taking on risk.
B. A franchise fee including royalties is typically only a few hundred dollars.
C. Shareholders are owners of a corporation and also referred to as stockholders.
D. Your business should should have insurance coverage before it even opens.
B. A franchise fee including royalties is typically only a few hundred dollars.
What do you call a business that buys and resells goods in small quantities directly to consumers.
retailer
The financial document that records inflow and outflows of cash when they actually occur is called:
Cash flow statement
Balance Sheet
Income Statement
Cash flow statement
What do you call a business that buys good in large quantities and resells them in smaller batches to retailers
Wholesaler
What is the expense that changes based on the amount of product or service sells called?
Variable Expense