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14 Cards in this Set
- Front
- Back
The inability to interpret financial records
demonstrates a lack of |
Product/service planning
|
|
A Rolex is considered an expensive watch
for the wealthy. A Timex is considered an inexpensive watch for the thrifty. These images illustrate successful |
Sales forecasting
|
|
Expenses that are NOT affected by sales
volume are called |
Variable costs
|
|
A federal agency that provides grants to
cities for loans to private developers to help improve impoverished areas is: |
SBA
|
|
Entrepreneurs generally have high
expectations for themselves and strive to achieve those expectations. Thus, they are characterized as |
Independent
|
|
Entrepreneurs are willing to work until the
job is finished. In this respect entrepreneurs are said to be |
Responsible
|
|
The proposed business organization,
including the form of business ownership, is included in which section of the business plan? |
Executive summary
|
|
In North Carolina, day care centers are
required to obtain licenses. This illustrates the government’s role as a |
Provider of social programs
|
|
Each year the government spends millions
of dollars on medical research. This is an example of the government’s role as a |
Regulator
|
|
The business lease has been renewed and
the monthly lease agreement is set for the next three years. Which type of expense is each lease payment? |
Variable
|
|
If the gross profit is $200,000 and the total
expenses are $103,300, what is the net income/profit (before taxes)? |
$103,300
|
|
XYZ DECA chapter sold $5,800 worth of
candy last year. A 9% increase in sales is projected for this year based on increased chapter membership and new candy varieties. XYZ DECA is projecting sales for this year to be |
$5,220
|
|
Total current assets for Howard’s Hotdogs
are $75,000. Total current liabilities are $32,000. What is the current ratio of assets to liabilities? |
$2.54 of current assets for every $1 of
current liabilities |
|
Market position is
|
A philosophy that guides how business is
conducted |