Business

8th -

12thgrade

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Domain 4, Lesson 1 & 2 Review

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  • 1. Fill in the Blank
    30 seconds
    1 pt

    A(n) _________________ refers to the net profit the company wants to make from the sale and is usually represented using a percentage. [Selling Price]

  • 2. Fill in the Blank
    30 seconds
    1 pt

    _____________ is the owner's remaining value after all liabilities have been deducted. [Basic Financial Statements]

  • 3. Fill in the Blank
    45 seconds
    1 pt

    Subtracting liabilities from assets calculates equity. A company’s balance sheet shows assets, liabilities, and equity.

    Mallory owns an auto repair shop. She has $12,000 in cash, $8,000 in inventory, a $4,000 credit card balance, and $3,500 in long-term debt. What is Mallory’s equity?

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