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BDI3C - 1.03 - Business Sizes and Terms Flashcards | StudBud

Explore/BDI3C - 1.03 - Business Sizes and Terms

ABC spends $1,200 this month and received $1,050 from operations. What's it's profit?

Jon and Sarah start a business. Jon contributed $5,000 and Sarah $4,000. All else being equal..

BDI3C - 1.03 - Business Sizes and Terms

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Answers

1
Jon and Sarah start a business. Jon contributed $5,000 and Sarah $4,000. All else being equal..
Jon has higher capital than Sarah.
Both statements are true.
The business' capital is $9,000.
2
ABC spends $1,200 this month and received $1,050 from operations. What's it's profit?
Need more data.
$2,250
$-150
$150
3
A Canadian business has 487 employees. What can be said about this business?
It's profitable!
It's a medium business.
It's a small business.
It's a large business.
4
The Holy Grail of Entrepreneurship and convergence combine to form __, __, and __ for micro-b's
Passion, Uniqueness, and Value.
Passion, Value, and Convergence.
Passion, something others want, and value.
Uniqueness, something others want, and value.
5
The Holy Grail of Entrepreneurship occurs when you have ___ and ___.
Passion and Convergence.
Uniqueness and Value.
Uniqueness and Passion.
Passion and Value.
6
A small business in Canada has fewer than...
50 employees
25 employees
5 employees
100 employees
7
Convergence occurs when you have ___ and ___.
Uniqueness and Value.
Passion and Value.
Uniqueness and Passion.
Passion and Convergence.
8
What is revenue?
Money spent on operations.
Money coming in from operations.
Money coming in from operations minus costs.
What owners get to keep at the end of the day, if they want.
9
What is profit?
Always the end-goal for NGOs.
Money coming in from operations minus costs.
Money coming in from operations.
Money spent on operations.
10
ABC Co. has $10k cash, $40k in equipment, and $5k in debt. What is its capital?
$45,000
$50,000
$55,000
$40,000