BizWorld Pre/Post Assessment

Front

How can a company know that it made a profit?

Back

It earned more money in revenue than it spent in expenses.

Front

When deciding on a price for a product, what factor(s) should a company consider?

Back

Cost of production and materials.

Front

If you take out a loan from the bank, you must:

Back

Repay the balance of the loan and interest.

Front

Why is it important to keep careful records of all your finances?

Back

To have clarity of how much you have and can spend.

Front

What does a venture capitalist receive in exchange for investing in a company?

Back

Shares of stock in the company and a vote in decision-making.

Front

If a company sells shares of stock, the company is:

Back

Losing a part of the ownership of the company in exchange for money.

Front

Money a company earns from selling a product or service is called:

Back

Revenue

Front

What is the profit equation?

Back

Revenue – Expenses = Profit (or Loss)

Front

The role of manufacturing is:

Back

To make the product easily and inexpensively.

Front

The purpose of marketing is to:

Back

Demonstrate why the company and its products are special and desirable.