Business Financials

A summary of a business's income and expenses during a specific period (month, quarter, year)

• Balance Sheet

• Income Statement

• Cash Flow Statement

• Profit-Sharing Plan

Assets - Liabilities =

• Profit

• Loss

• Equity

• Income

You bought a necklace for $40. You want to mark it up 800%. What will your selling price be?

• $360

• $320

• $32,000

• $280

Assets

• Inventory

• Equipment

• Work Trucks that are paid off.

• All of the above

Liabilities

• Loans

• Mortgage

• Work truck that are not paid off

• All of the above

Expenses that are the same every month

• Variable Costs

• Bills

• Wages

• Fixed Costs

Expenses that change every month

• Variable Costs

• Bills

• Wages

• Fixed Costs

Cash Balance + Projected Revenue - Expenses =

• Revenue

• Projected Ending Cash Balance

• Gross Profit

• Net Profit

• Income

Total Sales - Marketing Costs/Cost of Investment =

• Return on Investment

  (ROI)

• Selling Price

• Customer Retention Cost

• Customer Acquisition Cost

Start-Up Costs

• Permits & Business Cards

• Logo & Website Design

• Property Improvements

• All of the above