Entrepreneurs, profit and loss

A person who makes an income from their own business is a ...

• profit

• loss

• investment

• entrepreneur

If the income of a business is higher than its expenses they can get ...

• profit

• loss

• investment

• entrepreneur

If the expenses of a business are higher than its income they make a ...

• profit

• loss

• investment

• entrepreneur

Most new businesses need .......... to buy things such as equipment.

• profit

• loss

• investment

• entrepreneur

A new business could also take a .......... from a bank.

• share

• income

• expense

• loan

People who earn shares in a business are called...

• shareholders.

• sharehavers.

• sharetakers.

• share buyers.

Which is NOT a way entrepreneurs get an income?

• Buy and sell

• Buy and rent

• Create and smell

• Create and rent

Mr. Leach buys a car for $10,000 and sells it to Mr. Shinada for $15,000. How much profit in $ did Mr. Leach make?

Mr. Shinada then sells the car he bought for $15,000 to Mr. Spencer for $17,500. How much profit did Mr. Shinada make?

Mr. Leach buys the car back from Mr. Spencer for $10,000. How much of a loss did Mr. Spencer take?