Review for BEP Semester Exam 2024

Front

The key objective of a small business owner is to generate __________________.

Back

profits

Front

Businesses sell _____________ and services.

Back

products

Front

Is best for international businesses, have limited liability, and are double taxed.

Back

C Corporation

Front

_______________ employees are paid a fixed amount each pay period.

Back

salaried

Front

Business Life Cycle Stage 1 - When a business begins

Back

Existence

Front

Business Life Cycle Stages: Stage 2 - Income and customers begin to grow

Back

Survival

Front

Business Life Cycle Stages: Stage 4 - When an owner decides whether to continue growing the business and how to finance growth. Options: Pivot or Persist, Survival, Exit Plan Stage, Take-Off Stage, Resourse Maturity Stage

Back

Take-Off Stage

Front

Businesses can offer _____________ in addition to a lower salary.

Back

equity

Front

A one page document covering problems, solutions, and key details of a business plan, costs and revenue.

Back

Lean Canvas

Front

A brief overview of the business plan which outlines the business, what funding is needed, and financial projections. Usually 10-12 Slides

Back

Pitch Deck