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BDI3C - 1.03 - Business Sizes and Terms Flashcards | StudBud

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