Using Whatever Resources You Have to Save Money While You

question 94

Multiple Choice

Using whatever resources you have to save money while you are getting your business started is referred to as which of the following?

• A)seed money
• B)guerilla startup
• C)penny pinching
• D)skeletal startup

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Definitions:

Fees Earned

Revenue earned from providing services to clients or customers, typically recorded in the accounting period when the services are rendered.

Invoice

A document issued by a seller to a buyer that details a transaction and requests payment for goods or services provided.

Debit

An entry recorded on the left side of a ledger account that increases an asset or expense account, or decreases a liability, equity, or revenue account.

Credit

A financial arrangement where goods, services, or money is received in exchange for a promise to pay back later, often with interest.