Strategies for saving in the booklet include all EXCEPT:

breaking piggy bank to pay for pizza

All income a business receives over a period of time.

Mutual Funds allow you to:

pool money with other investors

Mutual funds DO NOT allow you to

vote for board members based on stock shares

the amount of the original deposit (or loan).

The basic financial equation is

Revenue - Expenses = Profit or Loss

The purpose of a budget is to

allow you to plan, control spending and save to reach future goals.

A start up budget is used

until the business gets established.

To apply the Rule of 72 (to see how long it would take principal to double) you would:

divide the annual interest percentage into the number 72.

Budgets are the first step in financial planning. Budgets are:

Maps meet your financial goals.

all the costs of operating a business during a period of time

What does a budget provide?

detailed plans for financial needs

studbud

SE2 Entrepreneurship and Principles

26 termsStudBud Administration96 plays

Imported from external platform

Flashcards26 cardsFPractice quizPHost liveL

Questions 26

Answers

1
Strategies for saving in the booklet include all EXCEPT:
Pay yourself first
savings goals
use “pizza principle” to divideup goals
breaking piggy bank to pay for pizza
2
What is Revenue?
All income a business receives over a period of time.
Expense
Profit
Money
3
Mutual Funds allow you to:
take more risk
put money into only one stock
pool money with other investors
4
Mutual funds DO NOT allow you to
vote for board members based on stock shares
pool money with other investors
Control your risks in specific stocks
Focus on a specific industry
5
What is NOT an example of a stored value card
Prepaid credit card
Payroll cards
Gift card
credit cards
6
Principle is
the finance charges over the life of the loan.
the down payment.st
the amount of the original deposit (or loan).
the amount paid over the life of the loan.
7
When you earn interest on the interest from a previous year it is called:
saving
rollover
investing
compounding
8
Which regulation restricted the ability to withdraw more cash at an ATM than you have in your account?
Reg A
Reg W
Reg F
Reg E
9
Stocks are all of these EXCEPT:
Bought and sold on Wall Street
a loan to a company.
a way to own part of a corporation.
small pieces (shares) of a company that can be bought.
10
The basic financial equation is
Profit - Expenses = Revenue or Loss
Revenue - Expenses = Profit or Loss
Profit - Loss = Revenue
Expenses minus Revenue = Profit or Loss
11
Debit cards are also called
Check cards
Credit cards
EFT cards
Gift cards
12
The purpose of a budget is to
allow you to plan, control spending and save to reach future goals.
To predict the future.
to give the banker information about your business.
to make your mom happy.
13
21. EFT stands for:
Every Friend Together
Electronic Funds Transfer
Electric Financial Transaction
Efficient Funds Trade
14
Every new business should consult with experts in business finance to develop financial management skills
Fa;se
True
15
Liquidity means all of these EXCEPT :
you can get money from the asset readily.
quickly converting assets to cash
the asset lasts a long time.
able to spend money from the asset
16
A start up budget is used
to determine the profitability of a company
to look back at the success of a company or sector
until the business gets established.
to determine income and expenses
17
An example of a stored value card is
Gift card
debit card
credit card
Hallmark card
18
Sources of budget information DO NOT include
weather information from NOAA
business publications such as Fortune and Forbes
private information collection agencies such as Dun and Bradstreet
Government census reports
19
As a security measure the bank has you sign a:
Blank Check
Signature Card
Signature Loan
Credit card receipt
20
Each time a business expansion is anticipated, you must plan carefully.
False
True
21
To apply the Rule of 72 (to see how long it would take principal to double) you would:
Divide the interest rate into the principal.
divide the principal by 72
Multiply the interest rate by 72.
divide the annual interest percentage into the number 72.
22
A business budget tries to predict two things:
vendors and suppliers
addresses and locations
future income and expense
fashion and styles
23
Revenue is
cost of doing business
profit
cash received
all income over a time period
24
Budgets are the first step in financial planning. Budgets are:
Treasure maps
Something to follow when you have enough money.
Maps meet your financial goals.
Maps to guarantee success
25
Expenses are
all income that a business receives over a period of time
money received in cash
the difference between revenue and expense
all the costs of operating a business during a period of time
26
What does a budget provide?
Profit and loss history for the business
Money for expansion
Knowledge of the future
detailed plans for financial needs

SE2 Entrepreneurship and Principles Flashcards | StudBud