Entrepreneurship 1: 4.04

Question 1

What Unit is this

Accepted Answer

4.04

Question 2

Sales commission is the amount a salesperson earns per sale, either a percentage or a flat rate

Accepted Answer

True

Question 3

A budget is the amount of money already spent

Accepted Answer

False

Question 4

Which is a factor that affects start-up costs?

Accepted Answer

Size of the business, Inventory Required, Customer Credit Policies, Nature of the business

Question 5

Variable Costs are expenses that change on a regular basis

Accepted Answer

True

Question 6

There are 3 types of operating costs

Accepted Answer

True

Question 7

An effective way to price products is to determine how much ________

Accepted Answer

customers will pay for them

Question 8

Gross profit is a bad indicator of how well a company is keeping costs under control.

Accepted Answer

False

Question 9

What is are fixed costs?

Accepted Answer

Expenses that remain the same for a period of time

Question 10

Select all 3 forms of operating costs.

Accepted Answer

Variable, Semi-Variable, Fixed

Questions 10