Ent: Business Terms Quiz 1

What is the term for initial funding to start a business?

• Profit

• Seed Money

• Depreciation

• Revenue

Which term describes money earned after expenses?

• Cost

• Seed Money

• Profit

• Liability

What is the difference between fixed and variable assets?

• Long-term vs. short-term assets

• Expenses vs. money made

• Initial funding vs. profit

• Debts due soon vs. later

What do short- and long-term liabilities refer to?

• Loss of value over time

• Debts due soon vs. later

• Initial funding to start a business

• Money earned after expenses

What does depreciation mean in business terms?

• Financial prediction

• Loss of value over time

• Initial funding to start a business

• Money earned after expenses

What is the difference between cost and revenue?

• Long-term vs. short-term assets

• Expenses vs. money made

• Debts due soon vs. later

• Loss of value over time

What is a pro forma statement used for?

• Initial funding to start a business

• Financial prediction

• Loss of value over time

• Money earned after expenses

Which term refers to the expenses vs. money made?

• Cost vs. Revenue

• Fixed vs. Variable Assets

• Short- & Long-Term Liabilities

• Seed Money