Business Terms / Parcial 2

What does ASAP stand for?

• As Soon As Possible

• A method of generating revenue

• A type of business license

• A means for creating text for images

What is a Business Model?

• A method of generating revenue

• A written outline that evaluates all aspects of your business

• A concise definition and description of your intended business

• A means for creating text for images

What is a Business Plan?

• A written outline that evaluates all aspects of your business

• A method of generating revenue

• A concise definition and description of your intended business

• A means for creating text for images

What is the purpose of a Balance Sheet?

• The purpose of a Balance Sheet is to track the daily expenses of a company.

• The purpose of a Balance Sheet is to determine the market value of a company's assets.

• The purpose of a Balance Sheet is to provide a snapshot of a company's financial position at a specific point in time, showing its assets, liabilities, and shareholders' equity.

• The purpose of a Balance Sheet is to calculate the profit and loss of a company.

The funds and assets invested in a business by the owners.

• capital

• revenue
• debt
• liability

One who organizes, operates, and assumes the risk in a business. 

• entrepreneur
• employee
• manager
• businessman

What is Equity?

• A type of debt in a company or property
• A measure of a company's profitability
• A legal document that grants ownership rights
• Ownership interest in a company or property

Also known as “profit and loss statement”. Shows income and expenses and resulting profit or loss over a specified period of time.

• balance sheet
• income statement
• NONES

Money in the bank i.e. sufficient cash to pay your bills and payroll on time.

• Liquidity

• Wealth accumulation
• Investment opportunities
• Debt management

Are the economic resources a business uses to increase sales, reduce costs or otherwise generate value.

• liabilities
• revenues
• expenses
• assets