Financial Basics

How well do you think you know financial vocabulary?

• Fantastic, I'm a pro!😁

• Ehh, I sorta-kinda get it.😐

• I don't understand it at all! 😭

What is money?

• Anything that holds value and can be exchanged for goods / services

• Nothing - money is imaginary and does not exist

• It is only the physical green paper I use to buy stuff

Which word describes the "value of money used up to produce something (what you spend to make something)"?

• Budget

• Income

• Cost

• Profit

Revenue is...

• the right side of a budget sheet

• money brought in through sales

• exactly the same as profit

• all of the above

A budget...

• shows your financial inflows and outflows

• keeps your finances organized

• highlights how much money you need for the budget topic

• all of the above

What is a receipt?

• Proof of a purchase

• A legal document showing you own something forever

• Unnecessary paperwork

• A paper that shows the entire transaction history for a business

Which of the following words represents to "borrowed money"?

• Debit card

• Cost

• Startup funds

• Loan

Interest is...

• A consistent and recurring payment

• The money used on a debit card

• The amount of money you borrow

• The cost of borrowing money

Why do you think entrepreneurs care about understanding finances?