Finances Review

What involves operating as frugally as possible when you start a business?

• Financing

• Bootstrapping

• Downsizing

• Price Reducing

Which financial statement shows sales, expenses, and net income/loss?

• Cash-Flow Statement

• Balance Sheet

• Income Statement

• Income Worksheet

Which financial statement shows assets, liabilities, and owners equity?

• Cash-flow Statement

• Balance Sheet

• Income Statement

• Income Worksheet

The most common way to get capital to start a business is from a bank?

• True

• False

When estimating your start-up expenses, you should only include what you need for your first month of sales.

• True

• False

BLANK capital is the money raised by taking out loans.

• Price

• Loan

• Asset

• Debt