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Intro to Business - Statistics
General Stats
- This quiz has been taken 1 time
- The average score is 27 of 27
Answer Stats
| Answer | Hint | % Correct |
|---|---|---|
| Accounting | Systematic and comprehensive recording of financial transactions pertaining to a business | 100%
|
| Audit | Review of the financial documents of a business and the accounting practices used to produce them | 100%
|
| Balance of Trade | Difference in value between the imports and exports of a nation | 100%
|
| Balance Sheet | Written summary of a business's assets, liabilities, and owner's equity on a specific date | 100%
|
| Bankruptcy | Legal proceeding involving a person or a business that is unable to repay outstanding debts | 100%
|
| Beneficiary | Someone who is eligible to receive distributions from a trust, will, or life insurance policy | 100%
|
| Budget | A plan you write down to decide how you will spend your money each month | 100%
|
| Capital | Man-made assets including equipment, processed materials, or cash used in the production process | 100%
|
| Capitalism | An economic system where trade and industry are controlled by private owners for profit through competition in the free market | 100%
|
| Cash Flow Statement | A financial statement that specifically summarizes the money spent and earned by a company over a specific period | 100%
|
| Communism | Economic system where private property, currency, and wealth is shared equally among citizens or according to individual need | 100%
|
| Competition | The struggle between businesses for the same customers | 100%
|
| Consumer | The ultimate user of a product | 100%
|
| Consumer Good | Tangible product purchased for personal use | 100%
|
| Consumer Price Index | Economic indicator that measures prices of an assortment of products to show the effect of inflation on purchasing power | 100%
|
| Copayment | Fixed amount for a covered health service, paid by a patient to the provider of service before receiving the service | 100%
|
| Corporation | Type of business that is a legal entity separate and distinct from its owners | 100%
|
| Cost of Goods Sold | The total value of direct expenses such as raw material and labor incurred in making a product | 100%
|
| Credit | Agreement under which a product is exchanged now for the promise to pay later | 100%
|
| Credit Score | A three-digit number based on your financial history that represents the likelihood you will pay your bills on time | 100%
|
| Culture | A shared set of workplace beliefs, values, attitudes, standards, purposes, and behaviors | 100%
|
| Demand | Quantity of a product that consumers are willing and able to buy at a specific price | 100%
|
| Depreciation | Decrease in the value of property as a result of age or wear and tear | 100%
|
| Digital Citizenship | Standards of behavior when using social media/technology to communicate | 100%
|
| Disposable Income | Earnings of an individual or business after direct taxes have been deducted | 100%
|
| Distribution | The movement of products, through a direct or indirect channel, from producer to the ultimate consumer | 100%
|
| Diversification | Minimizing risk by spreading funds over a wider selection of types of investments | 100%
|
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