Entrepreneurship & Small Business Terms

Costs incurred by a business for property or equipment are considered what kind of costs?

• Fixed Costs

• Acquisition Costs

• Negotiated Costs

• Operating Costs

__________ __________ refers to a company's ability to turn customers into repeat buyers and prevent them from switching to a competitor.

• Segmentation Methods

• Customer Referral

• Corporate Structure

• Customer Retention

The point at which total cost and total revenue are equal, meaning there is no loss or gain for your small business describes which term?

• Business Milestone

• Compound Interest

• Break-Even Point

• Segmentation Methods

What term does the image represent?

• Supply Chain

• Harvesting

• Zoning Variance

• Sales Return

ESOP involves employees purchasing ownership of a retirement plan from a business owner. What does ESOP stand for?

• Employee Share Ownership Plan

• Entrepreneur Stock Oversight Plan

• Employee Stock Ownership Plan

• Entrepreneur Stock Ownership Plan

A ___________ agreement is a legal agreement that binds one or more parties to non-disclosure of confidential or proprietary information. A confidentiality agreement is often used in situations wherein sensitive corporate information or proprietary knowledge is not to be made available to the general public or to competitors.

• Waiver

• Secret

• Closure

• Confidentiality

An interest calculation that accrues (sums of money, or benefits, be received by someone in regular or increasing amounts over time) the interest percentage for each of a loan is considered?

• Simple Interest

• Compound Interest

• Partial Interest

• Collection Interest

The amount of revenue for given period of time, which consists of gross sales minus sales return. (Revenue= Gross Sales- Sales Return)

Which term describes this statement/equation?

• Incentive

• Net Profit

• Net Sales

• Inventory

A Pitch Deck is a brief presentation, often created using PowerPoint, Keynote or Prezi, used to provide your audience with a quick overview of your business plan. It is usually 10-20 slides, highly visual, and used to get investors attention.

True or False?

• True

• False

If a business doesn’t have a habit of breaking the law, it doesn’t need a permanent lawyer in staff. Most businesses need legal services several times a year. A contract with a law company is a good way to get qualified legal aid. You have to pay only for solving your legal issue. 

What is this an example of?

• Opportunity

• Separation of Duties

• Networking

• Outsourcing