Business Terms Beginner Quiz 1

1. Which term describes a resource of value that is owned by an individual or a business?

2. Which term describes a financial obligation or debt owed by a business to another party?

3. What represents the total amount of money brought in by a business through the sale of goods or services?

4. What is the financial gain realized when the revenue generated exceeds the costs of operation?

5. Which term refers to the money spent by a business to generate revenue, such as rent or wages?

6. What is a formal plan that estimates income and expenses for a specific period?

7. What is an amount of money borrowed that must be repaid, typically with interest?

8. What is the extra fee paid by a borrower for the privilege of using someone else's money?

9. Which term describes a person or organization that purchases goods or services?

10. What is an ownership share in a corporation?