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WorksheetsEIE 3rd term quiz
Total questions: 20
Worksheet time: 40mins
When starting a business, you must answer an important question:
How much money do you need?
Where do you go?
How is your teacher?
What are you waiting for?
"One of the main reasons most small businesses fail is that they simply run out of cash,"
They didn't plan their costs
They didn't plan their life
They didn't do a business plan
They have a lot of money
It's easy to overestimate a new company's revenue and underestimate costs.
It means that you calculate more costs than income.
It means that you calculate more income and more costs.
It means that you calculate less costs and less income.
It means that you calculate less costs and more income
Fixed expenses, such as rent, are ___________ from month to month, whereas variable expenses ___________ on the direct sale of products or services.
consistent // depend
different // vary
variable // mantain
equal // influence
Here's a short list of costs you'll likely have as a new business: (more than one option is correct)
Web hosting and other website costs
Rental space for an office
Basic supplies
Sells
Here's a short list of costs you'll likely have as a new business: (more than one option is correct)
Insurance, license or permit fees
Advertising or promotions
Business plan costs
Donations you receive
How much is your total cost annualized in this case? (Ignore the coma when calculating)
184000
18500
184830
184340
Invoices track the sale of a product for inventory control, accounting and tax purposes. Therefore, the invoice ___________ has essential information regarding payment
date
colour
template
An invoice contains ___________ information
seller & buyer
seller
buyer
Invoices are different from purchase orders, because the invoice is created _________ a customer ______ for a good or service.
before // orders
before // pays
after // pays
after // orders
A Business Angel investor uses their personal disposable finance and business or _______________________ to invest in the growth of a small business, generally in start-up or early stage.
professional experience
house
money
Here is what angels particularly care about:
(more than one option is correct)
• The quality, passion, commitment, and integrity of the founders.
• The market opportunity
• A clearly thought out business plan
The money they can get from the business
Breakeven Point is
the point at which sales exactly cover expenses
a waste of time
the point at which I have losses
the point at which I make a profit
Breakeven Point result is related to
money
units, products or services
euros
Breakeven Point formula is
Fixed Costs / (Price per unit) - (Variable costs per unit)
Variable Costs / (Price per unit) - (Variable costs per unit)
Fixed Costs / (Price per unit) - (Fixed costs per unit)
Breakeven Point in this case is _________
F.C.= 5000
P.u.= 160
V.c.u. = 60
50 services a month.
100 services a month.
220 services a month.
Some financial sources are:
(more than one option is correct)
Own resources
Family, Friends & Fools
Credits or Loans
Sponsors
Some financial sources are:
Supliers
Shares
Crowdfunding
All the answers are correct
The balance sheet represents the state of a company's ___________ at a moment in time.
finances
success
assets
All the answers are correct
The balance sheet includes __________ assets, or long-term ___________ and short-term _________ or _____________ liabilities.
short-term // assets // obligations // long-term
long-term // assets // obligations // short-term
short-term // obligations // assets // long-term
