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 (a)  

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)

(a)  

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?

(a)  

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