Running A Small Business

Which of the following is not an advantage of buying an existing business?

What does the term ‘owner’s equity’ refer to?

What is meant by the term 'risk management'?

An advantage of being self employed is

Financial statement on whether a business has made a profit or loss during a set period of time

____ is the difference between revenue and the cost of goods sold

Surveys, questionnaires and interviews are used by small businesses to gather:

Select the CORRECT Answer

Select the CORRECT answer

The cost of services&materials used by a business to earn revenue are referred to as

Which of the following is not a desirable characteristic of a successful small-business owner?

A business owned by unlimited shareholders is called:

A disadvantage of being self-employed is

Complete the following accounting equation: Assets= _____ + _______

Which of the following terms refers to debts owed by a business?

Select the WRONG statement

An entrepreneur is

The income received by a business is generally referred to as

A financial statement that shows the net worth of a business at a particular time is a

A group of customers a business intends to sell its products to is called:

A business owned by between 2 and 50 shareholders is called:

______ involves the keeping of business records and preparation of financial statements

A business owned and operated by a single person is called:

A business owned and operated equally by between 2 and 20 people is called:

Consult the figures below and determine the profit for Magnificent Muffins