Definitions
What is a liabillity?
Something that does not make you money
Mark Zuckerberg has ADHD
False
Franchise
A business ran by a manager whose goods and branding are provided by a larger corporation
What is marketing?
the activity or business of promoting and selling products or services, including market research and advertising.
What is cash flow?
Something that determines wether someone is gaining or losing money
What is a Marketplace?
A place where you can buy and/or sell products.
Is online banking only online?
False (virtual is only online)
What is a non-for-profit?
A company that re-invests all their profit into the business
Name 3 types of advertising
Direct-to-home, out-of-home, radio, tv, newspapers, magazines, internet
Is cash a liabillity or an asset
Asset
What is a business?
A persons regular ocaaupation, profession or trade
The four characteristics of entrepreneurs are:
Self-confidence,A flair for innovation,The ability to work alone,An aptitude for managing others
True
Is a corporation considered an entity?
Yes
5 Marketing Activities
research, development, distribution, advertising, promotion
What are the 4 P's
Product, Price, Place, Promotion
What is Brick and Mortar?
A street side business that provides goods and/or services that is ran in a store or office that the business owns or rents.
Brand equity is part of advertising
False
Public Corporation?
A company whose shares are available to be traded on a public market.
4 rules of advertising
Attract Attention, Gain Interest, Build Desire, Get Action
What are the 2 C's
Customers and Competitors
What is Embezzlement?
Theft by an employee or a trusted associate
Bank loans are used in a balance sheet
True
What does L.L.P stand for
Limited Liability Partnership
What is one example of indirect competition?
...
3 ways to increase cash flow
1.Encourage customers to pay early.
2.Manage staffing and cash flow.
3.Manage your stock and suppliers.
4.Consider your other assets and investments.
5.Refine your marketing strategy.
6.Forecast your cash flow.