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2 cards from this section. Quick, good the night before a test.
Define financial literacy in your own words.
Think about the skills required for managing money.
What is a budget?
Consider how you plan to spend your money.
What is the formula for calculating profit?
Think about how businesses evaluate their success.
True or False: Keeping financial records is optional for small businesses.
Consider the implications of not keeping records.
Create a budget for a new startup, considering fixed and variable costs.
Consider both operational and unexpected costs.
Analyze a simple financial record and identify potential errors or discrepancies.
Look for missing entries or miscalculations in revenue.
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