business pd 6

What is the first step in creating a business? 

• Write a business plan
• Choose location
• Get a tax ID number
• Obtain a permit 

Startup costs are also known as: 

• Loan
• Investment costs
• Seed money
• Interest 

_______ debt must be paid within a year. 

• Short term
• Long term

Money raised for a company in exchange for a share of business - think Shark Tank!

• Equity
• Investment
• Seed Money
• Debt

Business owners can obtain a loan from a credit union. 

• true
• false

A way to ensure that a financial institution gets paid back.  

• Capital
• Seed money
• Equity
• Collateral 

The amount of money that a business earns in a given period of time. 

• Capital
• Revenue
• Seed Money
• Debt 

When total revenue EXCEEDS total expenses. 

• Revenue
• Loss
• Profit
• Debt 

Money that is owed. 

• Debt
• Cash Flow
• Seed Money
• Equity 

Total revenue is LESS THAN total expenses. 

• Revenue
• Profit
• Loss
• Debt