Business 101 Questions and Answers | Latest Version | 2024/2025 | 100% Correct
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Course
Business 101
Institution
Business 101
Business 101 Questions and Answers |
Latest Version | 2024/2025 | 100%
Correct
What is the definition of "Revenue"?
Revenue refers to the total income generated by a business from the sale of goods or
services.
What is "Profit"?
Profit is the financial gain that occurs when reven...
Business 101 Questions and Answers |
Latest Version | 2024/2025 | 100%
Correct
What is the definition of "Revenue"?
✔✔ Revenue refers to the total income generated by a business from the sale of goods or
services.
What is "Profit"?
✔✔ Profit is the financial gain that occurs when revenue exceeds expenses.
Define "Market Share."
✔✔ Market Share is the percentage of an industry or market’s total sales earned by a particular
company over a specific period.
What is a "Target Market"?
✔✔ Target Market is a specific group of consumers at which a company aims its products and
services.
1
,What does "B2B" stand for?
✔✔ B2B stands for Business-to-Business, which refers to companies that sell products or
services to other businesses.
What does "B2C" stand for?
✔✔ B2C stands for Business-to-Consumer, meaning a company sells products or services
directly to consumers.
What is the meaning of "Cost of Goods Sold" (COGS)?
✔✔ COGS represents the direct costs incurred in producing goods sold by a company, including
materials and labor.
What does "Return on Investment" (ROI) mean?
✔✔ ROI measures the gain or loss generated from an investment relative to its cost.
What is "Liquidity"?
✔✔ Liquidity refers to how quickly an asset can be converted into cash without affecting its
market price.
2
,What is "Working Capital"?
✔✔ Working Capital is the difference between a company's current assets and current liabilities,
indicating its operational efficiency and short-term financial health.
Define "Fixed Costs."
✔✔ Fixed Costs are expenses that do not change regardless of the level of production or sales,
such as rent or salaries.
What are "Variable Costs"?
✔✔ Variable Costs are expenses that vary directly with the level of production or sales, such as
raw materials or direct labor.
What is a "Business Plan"?
✔✔ A Business Plan is a detailed document outlining the goals, strategies, and financial
projections of a business.
What is the "Break-Even Point"?
✔✔ The Break-Even Point is the point at which total revenue equals total costs, meaning the
business is neither making a profit nor a loss.
3
, What does "SWOT" stand for in a SWOT analysis?
✔✔ SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
What is "Capital Expenditure"?
✔✔ Capital Expenditure refers to money spent by a business on acquiring or maintaining fixed
assets, such as buildings, machinery, or equipment.
What is a "Balance Sheet"?
✔✔ A Balance Sheet is a financial statement that shows a company's assets, liabilities, and
equity at a specific point in time.
What is "Net Income"?
✔✔ Net Income is the profit of a company after all expenses, taxes, and costs have been
deducted from total revenue.
What does "Depreciation" mean?
✔✔ Depreciation is the reduction in the value of an asset over time due to wear and tear or
obsolescence.
4
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