business 100 1-5

Any activity which seeks to earn a profit by providing a good or service is known as a(n) ?

• corporation

• business

• service

• industry

. ____________ is the amount a business earns over and above what it spends for salaries and other expenses. ?

• Interest

• Dividends

• Revenue

• Profit

A loss occurs when expenses are greater than ?

• costs

• assets

• profit

• revenue

A business incurs a ___________ if its costs and expenses exceed its revenues ?

• loss

• liability

• dividend

• debit

__________ is the chance a business owner will lose the time and money invested in a business that proves to be unprofitable?

• Fallibility

• Risk

• Depreciation

• Redundancy

The total amount of money that businesses earn by selling goods and services is called ________ ?

• profit

• loss

• revenue

• retained earnings

A(n) ____________ is a person who assumes the risk of starting a business ?

• stakeholder

• entrepreneur

• private investor

• manager

Starting a business always involves a ________ ?

• loss

• revenue

• profit

• risk

Often in business the greater the risk, the ?

• lower the value provided to society.

• lower the expected revenues.

• greater the potential reward

• greater the number of stakeholders.

For an entrepreneur to achieve success in the business world he has to be willing to take ?

• government assistance.

• losses.

• risks.

• bribes.