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Sm. Bus. Man. QIV

Final

QuestionAnswer
t/f: US population will increase by 2025 true
t/f: US death rate will increase by 2025 true
t/f: more US religious funerals in the future false
business that makes finished goods from raw materials manufacturer
business that purchases finished goods from a manufacturer for resale merchandiser
all of the efforts designed to preserve assets and earning power of your business risk management
most common risk management (shift risk) insurance
the protection for a business with regard to the monetary compensation which would be provided in the event of a loss insurance
insurance for building, equipment, machinery property insurance
insurance purchased for a very important person in your company, death benefits key employee insurance
preneed policy with a cash surrender value (revocable) whole life policy
a preneed policy without a cash surrender value, only lasts for a certain period of time term life policy
current assets-current liabilities= working capital
how much quantity of a certain item do I have to order to minimize total cost, without wasting any extra of that inventory? economic order quantity
how much you're going to charge for your products and services pricing
suppliers extend credit to your business trade credit
a business type which has a perpetual existence corporation
money borrowed to start up a business (two terms) debt capital/debt equity
when total sales meets your total operating expense you have reached the breakeven point
selling off your accounts receivable to a third party factoring
a leader that makes decisions solely by themselves autocratic
leaders that do very little supervising, leave the decision-making to employees free-reign
leaders that involve subordinates in decisions but make final decisions on their own democratic
when a private investor lends money to a small business, the investor is called a venture capitalist
largest and fastest computer mainframe
personal computers also called microcomputers
heart of computer cpu
programs which give computer instructions software
circuit board mother board
working memory RAM
preparing a disk formatting
Created by: amyziolkowski