Exit Ticket: Startup Budget

What is the definition of budget?

• Costs a business spends to generate sales and run its operations

• A detailed estimate of income and expenses for a specific period of time.

• Income a business receives

• Costs that stay the same amount each month (rent, utilities, insurance).

What is the definition of revenue?

• Costs a business spends to generate sales and run its operations

• A detailed estimate of income and expenses for a specific period of time.

• Income a business receives

• Costs that stay the same amount each month (rent, utilities, insurance).

What is the basic definition of expense?

• Costs a business spends to generate sales and run its operations

• A detailed estimate of income and expenses for a specific period of time.

• Income a business receives

• Costs that stay the same amount each month (rent, utilities, insurance).

What is the definition of fixed expense?

• Costs a business spends to generate sales and run its operations

• A detailed estimate of income and expenses for a specific period of time.

• Income a business receives

• Costs that stay the same amount each month (rent, utilities, insurance).

What is the definition of variable expense?

• Costs a business spends to generate sales and run its operations

• A detailed estimate of income and expenses for a specific period of time.

• Costs that change from month-to-month and depends on sales (inventory, marketing, packaging).

• Costs that stay the same amount each month (rent, utilities, insurance).