18 Questions
What is the main difference between fixed costs and variable costs?
Fixed costs stay consistent from month to month, while variable costs fluctuate based on units of production
What does working capital represent in a company?
The company's ability to pay its current liabilities with its current assets
What is the primary advantage of crowdfunding as a funding source?
It relies on receiving small contributions from many supporters
What is the main difference between debt financing and equity financing?
Debt financing requires repayment with interest, while equity financing does not
What is the purpose of a small business loan?
To give entrepreneurs access to capital for various business purposes
What is the profit formula?
Revenue - Cost = Profit
What is the primary purpose of a profit and loss statement?
To summarize the revenues, costs, and expenses incurred during a specified period
What is the main goal of creating a financial statement?
To forecast sales and budget for a business
What is the primary purpose of the Lean Canvas model?
To identify the revenue streams of a business
What is the main goal of bootstrapping?
To use personal finances or operating revenue to fund a business
What is the purpose of pitching in the fundraising process?
To seek funding from external sources
What is the main purpose of a balance sheet?
To cover revenue and expenses for a period of time
What is the primary focus of demographic market segmentation?
Personal characteristics such as age, gender, and income level
Which of the following is NOT a component of the Lean Canvas model?
Marketing Strategies
What is the primary purpose of market research in entrepreneurship?
To understand customer needs and preferences
What type of market segmentation involves grouping people based on their lifestyles and shared attitudes?
Psychographic segmentation
Why is it important for entrepreneurs to have a strong online presence?
To increase brand visibility
What is the primary focus of financial planning in entrepreneurship?
Making business decisions using financial concepts and tools
Test your knowledge of entrepreneurship finance, including bootstrapping, fundraising, financial statements, and revenue projection. Learn about the importance of pitching and entrepreneurship contests in the startup ecosystem.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
