Intro to Business Concepts "Bonus" Review

What is the term for a company or organization that operates to serve a purpose?

• Revenue

• Business

• Manager

• Supply Chain

The money remaining after all of the expense of the business are paid.

• Balance Sheet

• Shareholders

• Profit

• Corporation

What is a financial statement that summarizes the revenues, costs, and expenses incurred during a specific period of time?

• Distribution Channel

• Income Statement

• CEO

• Business

What is the group of individuals elected to oversee the activities of a company?

• Board of Directors

• Profit

• Business

• Distribution Channel

What is the title for the highest-ranking executive in a company, responsible for making major corporate decisions?

• CEO

• Profit

• Business

• Income Statement

What is the term for the path through which goods and services travel from the producer to the consumer?

• Distribution Channel

• Board of Directors

• Income Statement

• CEO

What is a business owned by one individual, where the owner receives all the profit but is also responsible for the debts?

• Corporation

• Partnership

• Sole Proprietorship

• Non-profit Organization

What is an organization that functions without the intent of making profit?

• Corporation

• Non-profit Organization

• Sole Proprietorship

• Partnership

What is a business that is not incorporated and has two or more owners?

• Corporation

• Partnership

• Sole Proprietorship

• Non-profit Organization

What is an organization that provides important services for the citizens they serve?

• Corporation

• Non-profit Organization

• Sole Proprietorship

• Partnership