Virtual Business Fall 2024

This statement shows how much cash a business receives and how the cash is used for a specified period of time?

• Cost of goods statement

• Income statement

• Gross profit

• Cash flow statement

Revenue minus expenses

• Profit

• Accounting

• Sales

• Projections

Advantages to virtual businesses include all the following EXCEPT:

• Is open 24/7

• Unlimited customer reach

• Flexible work schedule

• Long commute to work

A type of business where the legal entity is held responsible for decisions and ownership is separate and apart from the owner and shareholders.

• Partnership

• Sole proprietorship

• Corporation

• Group business

What part of the business plan provides a brief overview of the business?

• Company description

• Marketing plan

• Operating plan

• Financial plan

Finding and analyzing potential consumers for a specific product or service is called?

• Entrepreneur

• E-tailing

• E-commerce

• Target market

What type of business structure is owned by one person?

• Sole Proprietorship

• Partnership

• Corporation

• Entrepreneurship

A government funded organization that helps small business owners borrow money as well as manage their business more efficiently is called:

• Internal Revenue Service

• Workforce Commission

• The Small Business Administration

• Junior Achievement

The main page of a website should include all the following except______?

• Friendly, welcoming layout and design

• Color and theme consistent with your logo

• Unlimited fonts and typefaces

• Graphic images that relate to your type of business

The shared values, traditions, customs, philosophies, and policies of a corporation are called:

• Company rules

• Corporate culture

• Corporate structure

• Company data