General Financial Terms

Define Expenses

• Costs required to run my business and pay my rent

• Costs to create and sell products

• Costs to sell products

• Costs required to do business

What is the definition of Revenue?

• The act of creating new goods, services, processes, or ideas

• The area where passengers wait to board the aircraft

• Money generated from business operations

• Gathering information on competitors and customers

What is Profit?

• Just Revenue

• Revenue - Expenses

• Revenue + Expenses

• Cash Flow

What is Cash Flow?

• The total amount of money going in and out of the business

• Money going in to your business

• Money coming out of business

• The total amount of money on hand, going in, and going out of business

What is Costs of Goods Sold?

• Total expenses

• How much it costs to create and sell a product

• How much it costs to sell your products

• How much it costs to create and sell all your products

What does it mean to budget?

• Setting up a business plan

• Setting up a way to make more sales

• Setting up a plan to help you achieve your financial goals

• Setting up a plan to limit expenses

What do you use an emergency fund for?

• General business expenses

• To go out and party with friends

• Helps me pay unexpected bills during hard times

• Helps me fund my business when I have a bad month of sales

What is Return on Investment?

• The amount of money I make from a financial or product investment

• The profit I make from a financial or product investment

• When I return an investment

• The expenses of an investment