PLAN SMALL BUSINESS FINANCES EXAM WITH VERIFIED ANSWERS
1.revenue: MMThe MMtotal MMamount MMof MMmoney MMa MMbusiness MMtakes MMin
MMduring MMa MMgiven MMperiod MMby MMselling MMgoods MMand MMservices.
2.gross MMincome: MMthe MMtotal MMamount MMof MMincome MMa MMperson
MMor MMcompany MMhas MMearned MMbefore MMdeduction
3.market MMskimming MMpricing: MMwhen MMa MMcompany MMinitially MMsets
MMhigh MMsets MMa MMhigh MMprice MMfor MMa MMproduct MMor MMserene MMwhen
MMit MMenters MMthe MMmarket MM.
4.target MMmarket: MMspecific MMgroup MMof MMpeople MMor MMbusiness MMa
MMcompany MMaims MMto MMsell MMit MMproducts MMor MMservice MMtoo.
5.cash MMflow: MMthe MMdifference MMbetween MMcash MMcoming MMin
MMand MMcash MMgoing MMout MMof MMa MMbusiness
6.schedule MMof MMpersonal MMdrawings: MMrefers MMto MMa MMrecord MMor MMplan
MMoutlining MMwhen MMa MMan MMindividual MMintends MMto MMmake MMpersonal
MMwithdrawals
7.liquidity: MMthe MMease MMwith MMwhich MMan MMasset MMcan MMbe MMconverted
MMinto MMcash
8.leasing: MMis MMa MMform MMof MMdebt MMfinance MMthat MMis MMoffered MMby
MMfinance
companies MMto MMprovide MMaccess MMto MMassets MMwithout MMthe MMneed MMfo
1
MM
, MM large MMoutlays MMof MMcapital.
9.term MMloan: MMis MMa MMform MMof MMdebt MMfinance
MMavailable MMfrom MMbanks MMand MMfinance MMcompanies.
MMThe MMamount MMis MMthen MMrepaid MMwith MMinterest.
10.current MMassets: MMare MMcash MMor MMother MMassets, MMwhich
MMcan MMbe MMconverted MMinto MMcash MMduring MMthe MMnormal
MMoperating MMcycle MMof MMthe MMbusiness.
11.liability: MMare MMthe MMamounts MMof MMmoney
12.Owner's MMEquity: MM_the MMbalance MMof MMmoney MMinvested MMin MMthe
MMbusiness MMby MMthe MMowner.
13.When MMmaking MMeffective MMbusiness MMdecisions, MMwhat MMis
MMrequired?: MMfinancial MMplanning
managing
MMcash MMrisk
MMassessment
MMbreak MMeven
MMsales
14.Does MMthe MMgeneral MMmarket MMtrends, MMcompetitor's MMprices,
MMdemand MMand MMtarget MMmarket MMall MMcontribute MMto MMhow MMa
MMbusiness MMcalculates MMthe MMcost/price MMof MMtheir MMservices/products?
True MMor MMFalse: MMtrue
15.Why MMdo MMyou MMneed MMa MMbusiness MMplan?: MMits MMimportant
MMbecause MMit MMhelps MMyou MMfigure MMout MMwhat MMdo MMyou MMwant MMto
MMdo MMwith MMyour MMbusiness MMhow MMyou'll MMdo MMit MMand MMhow MMwill MMyou
MMmake MMmoney MM.
16.. MMHow MMwould MMyour MMbusiness MMobjective MMinfluence MMthe MMcost MMof
MMthe MMservices MMyou MMprovide?: MMit MMwill. MMinfluence MMon MMthe MMmarket
MMpositioning, MMquality, MMcustomer MMsatisfaction, MMinnovation, MMand
MMsustainability.
17.List MMtypical MMbusiness MMexpenses MM(5):
MMaccounting MMfees; MMbank MMinterest MMand
MMcharges;
bookkeeping MMfees;
2
MM
1.revenue: MMThe MMtotal MMamount MMof MMmoney MMa MMbusiness MMtakes MMin
MMduring MMa MMgiven MMperiod MMby MMselling MMgoods MMand MMservices.
2.gross MMincome: MMthe MMtotal MMamount MMof MMincome MMa MMperson
MMor MMcompany MMhas MMearned MMbefore MMdeduction
3.market MMskimming MMpricing: MMwhen MMa MMcompany MMinitially MMsets
MMhigh MMsets MMa MMhigh MMprice MMfor MMa MMproduct MMor MMserene MMwhen
MMit MMenters MMthe MMmarket MM.
4.target MMmarket: MMspecific MMgroup MMof MMpeople MMor MMbusiness MMa
MMcompany MMaims MMto MMsell MMit MMproducts MMor MMservice MMtoo.
5.cash MMflow: MMthe MMdifference MMbetween MMcash MMcoming MMin
MMand MMcash MMgoing MMout MMof MMa MMbusiness
6.schedule MMof MMpersonal MMdrawings: MMrefers MMto MMa MMrecord MMor MMplan
MMoutlining MMwhen MMa MMan MMindividual MMintends MMto MMmake MMpersonal
MMwithdrawals
7.liquidity: MMthe MMease MMwith MMwhich MMan MMasset MMcan MMbe MMconverted
MMinto MMcash
8.leasing: MMis MMa MMform MMof MMdebt MMfinance MMthat MMis MMoffered MMby
MMfinance
companies MMto MMprovide MMaccess MMto MMassets MMwithout MMthe MMneed MMfo
1
MM
, MM large MMoutlays MMof MMcapital.
9.term MMloan: MMis MMa MMform MMof MMdebt MMfinance
MMavailable MMfrom MMbanks MMand MMfinance MMcompanies.
MMThe MMamount MMis MMthen MMrepaid MMwith MMinterest.
10.current MMassets: MMare MMcash MMor MMother MMassets, MMwhich
MMcan MMbe MMconverted MMinto MMcash MMduring MMthe MMnormal
MMoperating MMcycle MMof MMthe MMbusiness.
11.liability: MMare MMthe MMamounts MMof MMmoney
12.Owner's MMEquity: MM_the MMbalance MMof MMmoney MMinvested MMin MMthe
MMbusiness MMby MMthe MMowner.
13.When MMmaking MMeffective MMbusiness MMdecisions, MMwhat MMis
MMrequired?: MMfinancial MMplanning
managing
MMcash MMrisk
MMassessment
MMbreak MMeven
MMsales
14.Does MMthe MMgeneral MMmarket MMtrends, MMcompetitor's MMprices,
MMdemand MMand MMtarget MMmarket MMall MMcontribute MMto MMhow MMa
MMbusiness MMcalculates MMthe MMcost/price MMof MMtheir MMservices/products?
True MMor MMFalse: MMtrue
15.Why MMdo MMyou MMneed MMa MMbusiness MMplan?: MMits MMimportant
MMbecause MMit MMhelps MMyou MMfigure MMout MMwhat MMdo MMyou MMwant MMto
MMdo MMwith MMyour MMbusiness MMhow MMyou'll MMdo MMit MMand MMhow MMwill MMyou
MMmake MMmoney MM.
16.. MMHow MMwould MMyour MMbusiness MMobjective MMinfluence MMthe MMcost MMof
MMthe MMservices MMyou MMprovide?: MMit MMwill. MMinfluence MMon MMthe MMmarket
MMpositioning, MMquality, MMcustomer MMsatisfaction, MMinnovation, MMand
MMsustainability.
17.List MMtypical MMbusiness MMexpenses MM(5):
MMaccounting MMfees; MMbank MMinterest MMand
MMcharges;
bookkeeping MMfees;
2
MM
