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WorksheetsEntrepreneurship & Small Business Terms
Total questions: 20
Worksheet time: 12mins
Costs incurred by a business for property or equipment are considered what kind of costs?
Fixed Costs
Acquisition Costs
Negotiated Costs
Operating Costs
__________ __________ refers to a company's ability to turn customers into repeat buyers and prevent them from switching to a competitor.
Segmentation Methods
Customer Referral
Corporate Structure
Customer Retention
The point at which total cost and total revenue are equal, meaning there is no loss or gain for your small business describes which term?
Business Milestone
Compound Interest
Break-Even Point
Segmentation Methods
What term does the image represent?
Supply Chain
Harvesting
Zoning Variance
Sales Return
ESOP involves employees purchasing ownership of a retirement plan from a business owner. What does ESOP stand for?
Employee Share Ownership Plan
Entrepreneur Stock Oversight Plan
Employee Stock Ownership Plan
Entrepreneur Stock Ownership Plan
A ___________ agreement is a legal agreement that binds one or more parties to non-disclosure of confidential or proprietary information. A confidentiality agreement is often used in situations wherein sensitive corporate information or proprietary knowledge is not to be made available to the general public or to competitors.
Waiver
Secret
Closure
Confidentiality
An interest calculation that accrues (sums of money, or benefits, be received by someone in regular or increasing amounts over time) the interest percentage for each of a loan is considered?
Simple Interest
Compound Interest
Partial Interest
Collection Interest
The amount of revenue for given period of time, which consists of gross sales minus sales return. (Revenue= Gross Sales- Sales Return)
Which term describes this statement/equation?
Incentive
Net Profit
Net Sales
Inventory
A Pitch Deck is a brief presentation, often created using PowerPoint, Keynote or Prezi, used to provide your audience with a quick overview of your business plan. It is usually 10-20 slides, highly visual, and used to get investors attention.
True or False?
True
False
If a business doesn’t have a habit of breaking the law, it doesn’t need a permanent lawyer in staff. Most businesses need legal services several times a year. A contract with a law company is a good way to get qualified legal aid. You have to pay only for solving your legal issue.
What is this an example of?
Opportunity
Separation of Duties
Networking
Outsourcing
(a) costs are costs to a business, such as rent, that are constant whatever the quantity of goods or services produced.
Fill in the blank from the word bank.
Word Bank: Variable, Fixed, Simple, Normal
Primary Data is information collected through original or first-hand research.
Secondary Data is information which has been collected in the past by someone else.
Demographic data you obtained from the government is considered (a) data
An individual who provides financial backing for small start-up businesses or entrepreneurs. This individual will often accept a lower return on investment or partial ownership of business.
What is this individual called?
Angel Investor
Banker
Debt Collector
Accountant
B2B means Business to Business, which is a type of commerce transaction that exists between businesses, such as those involving a manufacturer and wholesaler or retailer.
Which of these are examples of B2B? (Select two correct answers)
Wholesale distributor to a retail business
Chain of local grocery stores
Motorcycle repair shop
Tire manufacturer to car manufacturer
Equity is the value of shares (value of assets ) issued by a company.
Who has equity within a company? (Two correct answers)
Company Contractors
Company's founders
Company staff
Company partner
This image is representation of which process?
Business Testing Process
Linear Process
Element of Design Thinking Process
Test and Design Thinking Process
Price, Quality, Location, and Service are characteristics that identify which term?
Business Opportunity
Business Milestone
Brand Recognition
Brand Marketing
A Business Plan is a text document that addresses the concept, customers, and capital for a business. It is used to get investors to buy in to business.
True
False
A ________ Market is the group of potential customers to whom a company wants to sell its products and services.
Fixed
General
Target
Benefits
Primary Data is information collected through original or first-hand research.
Secondary Data is information which has been collected in the past by someone else.
A marketing survey you posted on Facebook is considered (a) data
