Micro Enterprise 50 Questions

Front

A breakeven analysis can determine: how many units the company will need to sell to pay for a new piece of equipment

Back

how many units the company will need to sell to pay for a new piece of equipment

Front

A business plan has the following purpose: describes in detail how the company's product or service will be differentiated versus its competition.

Back

describes in detail how the company's product or service will be differentiated versus its competition

Front

A company balance sheet is the single report that best indicates:

Back

company assets and liabilities

Front

A conflict of interest is:

Back

a situation in which an individual might take an action to his/her advantage that would be to the disadvantage of a person or company that believe this individual is serving them

Front

A guarantor:

Back

is a credit-worthy individual or business responsible for repaying a loan if the debtholder cannot.

Front

A payment made to an insurance company to cover the costs of an insurance policy is called:

Back

a premium

Front

Advertising can be important for a new business because it: communicates a differentiated message to your target customers

Back

communicates a differentiated message to your target customers

Front

An employee:

Back

works for someone else

Front

An example of a fixed cost is: cost of goods sold, hourly labor, office supplies, monthly rent

Back

monthly rent

Front

An example of a variable cost is: overhead salaries, cost of goods sold, the salary of the Finance Vice President, monthly rent

Back

cost of goods sold