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Business Words You Need to Know Flashcards | StudBud
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Business Words You Need to Know
Business Words You Need to Know
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Basic Business Terms
Flashcards
12 cards
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12
Answers
1
When referring to a business, what is service?
the value of everything a company owns and uses
work done for pay that benefits another.
profit divided by revenue displayed as a percentage.
a potential customer.
2
In the business world, what does "asset" mean?
the degrading value of an asset over time.
the value of everything a company owns and uses.
one business sells goods or services to another business.
a system that provides information about finances.
3
What is revenue?
the entire amount of income before expenses are subtracted.
money spent on supplies, equipment or other investments.
the amount of time it takes to recover from investments
the value of what a business owes to someone else.
4
What is net worth?
the total value of a business.
revenues minus expenses.
the value of what a business owes to someone else.
a one-time expense that doesn’t vary with business volume.
5
What is a supplier?
something produced or manufactured to be sold; a good.
the process of promoting and selling a product or service.
a potential customer.
an organization that provides supplies to a business.
6
What is an entrepreneur?
someone who starts a new business.
a potential customer.
someone who sells and distributes a product or service.
work done for pay that benefits another.
7
What is net income or net profit?
the value of what a business owes to someone else.
the total amount of income minus expenses.
a one-time expense that doesn’t vary with business volume.
the total value of a business.
8
How does marketing help a business?
It sells goods or services directly to the end user.
It promotes, sells and distributes a product or service.
It degrades the value of an asset over time.
It spends on supplies, equipment or other investments.
9
What does the business term " net worth" mean?
a formal agreement to do work for pay.
the total value of a business.
revenues minus expenses.
a category of like businesses.
10
What are liabilities?
something produced or manufactured to be sold; a good.
the value of what a business owes to someone else.
the management and allocation of money and other assets.
work done for pay that benefits another.
11
What is an expense?
money spent on supplies, equipment or other investments.
a category of like businesses.
the degrading value of an asset over time.
the degrading value of an asset over time.
12
What is a target market?
the process of promoting & distributing a product or service
a group of customers at which a company aims its services.
something produced or manufactured to be sold; a good.
an organization that provides supplies to a business.
