Review: Business Plan/Finance Unit Test

What is an Angel Investor?

• Someone who maintains an ownership stake, and participates in company decisions.

• An individual or organization that pays some or all expenses towards an event in return for advertising.

• Someone wealthy enough that has money available to invest in small businesses.

• Owner of the business that receives profit from participating in business actions and decisions.

A written description of a new business venture that describes all aspects of the business.

• Business Plan

• Business Description

• Vision Statement

• Partnership

What is a Balance Sheet?

• a comprehensive account of a business's transactions and expenses, created to give a business oversight of it's financial matters.

• a snapshot of the total amount a business has earned or lost at the end of the month.

• Overall movement of funds through your business each month.

• a snapshot of the company's financial situation at any given moment.

True or False: Capital is the money a business has in it's account, assets, and investments.

• True

• False.

  Capital is the economic resources a business has, including the products it has in inventory.

Discusses how a company makes its customers aware of its products or services.

• Business Description

• Marketing Plan

• Management Plan

• Mission Statement

Ethics is...

• A set of guidelines of how a business conducts itself.

• The purpose of a company and defines its values and beliefs.

• Moral principles by which people conduct themselves personally, socially and professionally.

• Details specific goals the company will try to reach.

___________________ is a comprehensive account of a business' transactions and expenses.

• Financial Statement

• Balance Sheet

• Assets

• Valuation

True or False: Expenses is the total amount a business has earned or lost at the end of the month.

• True

• False. Expenses is costs the company incurs each month in order to operate.

What are the parts of a Marketing Plan?

• Marketing Budget

• Marketing Tactics

• Pricing

• Media Plan

• Company Image

______________ presents owner's qualifications and where to fill gaps in expertise.

• Business description

• Management plan