Casualty insurance protects you when?

when someone filed a lawsuit against you

What does pro forma mean?

estimates of financial statement for the future

private equity firms generally invest in what type of business?

more established business that may need an overhaul

What is a balance sheet?

Shows the financial condition on a specific date

something of value "put up" for a loan

What is depreciation?

decrease in value of an asset over time

total amount of money received by a business

What is an income statement?

shows financial progress over time

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entrepreneurship CHAPTER 6

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Questions 17

Answers

1
A "secured loan" is a loan not backed by collateral
false
true
2
if you caused an accident, damaging another car and causing injuries. which part of your policy would pay for the car?
your collision coverage
your comprehensive coverage
your bodily injury liability coverage
your property damage coverage
3
Casualty insurance protects you when?
all of these are correct
it is a type of life insurance
when someone filed a lawsuit against you
your property gets damaged
4
What does pro forma mean?
professional formation
go pro camera
estimates of financial statement for the future
all financial statements
5
private equity firms generally invest in what type of business?
newer business in need of an influx of capital and expertise
all of these
any business so they can make money
more established business that may need an overhaul
6
liabilities would appear on which financial statement?
both
neither
income statement
balance sheet
7
What is a venture capitalist?
are unemployed
work for someone else
invest $$ in new businesses
8
What is a balance sheet?
all of these
Shows the financial condition on a specific date
shows financial progress over time
Shows cash going into and out of a business
9
What is collateral?
something of value "put up" for a loan
defines and "unsecured" loan
damage clause in a contract
something illegal
10
What is depreciation?
an asset
decrease in value of an asset over time
a liability
11
SBA stand for?
Small Business Administration
Spectacular Business Class
Small Business Association
Super Business Accolades
12
Revenue means what?
how much profit the business earned
none of these
total amount of money received by a business
how much money the business saves on start up costs
13
What is a liability?
both of these
bank loan
rent expense
14
Assets would typically appear on an income statement
true
false
15
What is a start up?
a successful business
a brand new business
an older business
a business looking up
16
The amount of Sales for a fiscal period would appear on which financial statement?
income statement
both
balance sheet
neither
17
What is an income statement?
shows financial progress over time
Shows the financial condition on a specific date
shows cash going in and cash going out
none of these

entrepreneurship CHAPTER 6 Flashcards | StudBud