Vital vocabulary cont.
Test your knowledge of some valuable business concepts by dragging each term into the correct blank.
Accounting or bookkeeping
Everything a business does to both gain and keep customers.
The minimum amount of money a business must bring in to pay all expenses.
When your business has positive gain after paying all expenses.
Tracking the money in your business, also called "keeping the books."
All of your monthly bills and expenses.
The money your customers owe you.
Money that constantly moves in and out of a business.
That's not quite right. Keep going.
To succeed in business:
1. Keep your overhead as low as you can.
2. Know your customers and put them first.
3. Keep good records to make smarter decisions; you can’t manage what you don’t measure.
For more small business knowledge and skills, click on Library. Click the Next button to learn about three types of business credit.