Financial Planning Quizizz

A summary of your current personal financial condition.

• Income statement
• Personal financial statement
• Asset

A summary of business income and expenses during a   specific period such as a month, quarter, or a year.

• Income statement
• Personal financial statement
• Start-up costs

A projection of how much money you will need for your first year of operation.

• Net income
• Liability
• Start-up costs

The total amount spent to produce or buy the merchandise to be sold.

• Variable expenses
• Cost of goods sold
• Net sales

Anything of monetary value that you own.

• Liability
• Balance sheet
• Asset

A summary of a business's assets, liabilities, and owner's equity.

• Asset
• Income statement
• Balance sheet

Costs that stay the same for a certain period of time such as rent or insurance.

• Fixed expenses
• Variable expenses
• Asset

What you have to pay on money borrowed to start a business.

• Liability
• Net income
• Interest

The amount you borrow.

• Start up costs
• Gross sales
• Principal

What an employee receives after deductions for taxes, insurance, and voluntary deductions.

• Gross pay
• Profit
• Net income