Basic Accounting Terminology Budgets Marketing Financing
100
What is a balance sheet?
This financial statement will provide a snapshot of the company's current financial condition.
100
What are sales budget, production budget, cashflow/cash budget, marketing budget, project budget, and expenditure budget?
These are the six types of commonly used budget types for businesses.
100
What is marketing?
It is the art of grabbing the potential customer's attention which will, hopefully, lead to a purchase.
100
What is self-financing?
By utilizing this type of financing, you provide the funds needed to start a small business.
200
What is an income statement?
The financial statement is used to summarize the amounts of revenues earned, and the expenses incurred by a business or entity over a period of time.
200
What is Specific, Measurable, Attainable, Realistic, and Time Driven?
The acronym SMART stands for this.
200
What are product, price, promotion, and place?
The four P's of marketing are these.
200
What are grants?
When looking for money for your business, apply for these. You don't have to pay them back.
300
What is accounts receivable?
This type of record is used to keep track of money that is owed to a business.
300
What is a sales budget?
This type of budget estimates future sales. It is usually broken down into units and dollars and helps to create company sales goals.
300
What loyalty programs, incentives, personal communication, and direct mail?
For repeat purchases, consider these types of customer service.
300
What are family, friends, and fools?
According to the investing video, you can ask these three F's for money to start your company.
400
What is inventory
It can be described as either a list of goods and materials or the goods and materials themselves.
400
What is an expenditure budget?
This budget estimates what expenses the organization will have for a time. It could include supplies for sale, office supplies, and bills.
400
What are who, what, where, and when?
The four W's of a marketing campaign are these.
400
What is a bank loan?
This type of loan is based on your credit, a solid business plan, experience, assets, and a personal guarantee to pay back.
500
What are assets
Probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events.
500
What are List, Order, assess, Determine?
These four steps will help you determine if you need to budget for additional special circumstances.
500
What are power words?
You, love, new, safety, save, results, health, guarantee, discover, proven, are all these type of words when creating a marketing campaign.
500
What are private equity, venture capital, and angel investors?
The three most common types of investors are these.






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