8th Grade Final Exam Study Guide

Front

Consumers who want to buy your product make up the target market

Back

True

Front

Two important financial statements which an entrepreneur might use are: Balance sheet, Income Statement

Back

Both

Front

The location of a business (4 P')

Back

place

Front

A business run by two or more people is known as a

Back

partnership

Front

Assets are things a business

Back

owns

Front

Liabilities are things a business

Back

owes

Front

Revenue and Expenses are two items found on which financial statement?

Back

Income statement

Front

Equation for determining Assets: Liabilities + Owner's Equity = ?

Back

Assets

Front

A person who takes the risk of starting his/her own business

Back

entrepreneur

Front

Expenses that can change from month to month are

Back

Variable expenses