Pre-Assessment

When you go to a movie, make a deposit at the bank, get a haircut, take a swimming lesson, use your telephone, or ride a bus, you are using services.

• True

• False

Financial statements summarize the financial conditions and operations of a business.

• True

• False

Equipment is an example of an asset?

• True

• False

When you decide to buy a jacket instead of a concert ticket, you are making a trade-off?

• True

• False

Who is an entrepreneur?

• Someone who works for a large company

• Someone who starts their own business

• Someone who studies business in University

What is profit?

• The money you spend - the price you sell it for

• The price your sell it for + the money you spend

• The price you sell it for - the money you spend

What are the examples of influence?

• Your brother tells you how awful this one singer is, and you stop listening to his music.

• Your teacher teaches you about animals. You are very interested, so you read a lot about animals at home now.

• Five new bakeries opened in the neighborhood. Now the little coffee shop has to close down, because they lost all their customers!

• All answers are correct

Why do people get bank loans? 

• to start their own business

• To give to their brother 

• to never work again

• to be in debt

What business is most likely to fail?

• a restaurant

• a school

• a cleaning service provider

Being in debt means you…

• ...open your own business

• ...expand your business

• ...have a large income

• ...owe someone money