Chapter 17: Managing Business Finance

To run a business successfully, you must be able to put together a financial plan, budget, and keep track of your income and expenses

• True

• False

What is a one-year accounting period called?

• Financial Forecast

• Operating Cost

• Fiscal Year

• Financial Finnish

An item of value your business owns is called ____

What is money that your business owes called?

• Net Loss

• Owner's equity

• Blood Debt

• Liability

A cash budget tells you how much money your business will need over the long run. (True or False)

What is the report of the financial state of your business on a certain date called?

• Balance sheet

• Budget

• Cash Budget

• Snitch

Your financial records are not confidential, so you have to show them to banks or investors

• True

• False

What is the process of recording your business's finances?

When a business's expenses are greater than the revenue, it is called___

• a cash reserve

• a cash preserve

• a net loss

• a net storage

Who is the person in charge of a business's financial planning?

• Financial Manager

• Financial Overseer

• Financial Accountant

• Mr. Morrise and his Basic Math Skills