Finance

Question 1

Definition: Non-recurring costs associated with starting up a business.

Answer 1

Start-Up Costs

Question 2

What is the financial statement called that indicates the movement of cash coming and going in the business?

Answer 2

CashFlow Statement

Question 3

What is the financial statement that measures the worth of the business indicating how much it owns and owes for specific date?

Answer 3

Balance Sheet

Question 4

What is the financial statement that measures the performance of the business indicating its profit or loss?

Answer 4

Income Statement

Question 5

Financial ratio used to measure efficiency, liquidity, profitability and solvency to check whether the business is improving or deteriorating.

Answer 5

Ratio Analysis

Question 6

List some personal start-up money resources.

Answer 6

Sweat Equity, Personal Savings, Mom & Dad, Friends & Family, Second Mortgage, Personal Loan, Bootstrapping, Bartering, and Credit Cards.

Question 7

List some business start-up money resources.

Answer 7

Business Associates, Customers in Hand, Suppliers/Vendors, Seller Financing, Prospective Employees, Joint Ventures/Partners, Inventory Financing, and Equipment Financing.