Introduction to a Trading Business

What are the three types of businesses you can get?

• Service business

• Trading business

• Manufacturing business

• Selling business

What is the definition of a service business?

• A business that sells goods for a profit.

• A business that makes products to sell.

• A business that earns money by providing a service.

• A business that both sells goods and provides services.

What is the definition of a trading business?

• A business that sells goods for a profit.

• A business that makes products to sell.

• A business that earns money by providing a service.

• A business that both sells goods and provides services

What is the definition of a manufacturing business?

• A business that sells goods for a profit.

• A business that makes products to sell.

• A business that earns money by providing a service.

• A business that both sells goods and provides services.

What is the main source of income for a service business?

• Commission income

• Current income

• Rent income

• Sales

What is the main source of income for a trading business?

• Commission income

• Current income

• Rent income

• Sales

How would you calculate how much profit you made on the sale of an item?

• Your profit is the amount of money you sold the item for.

• Add what you paid for the item to what you sold it for.

• Subtract what you sold an item for from what you paid for it.

• Subtract what you paid for the item from how much you sold it for.