Balance Sheet and Personal Financial Statement Essay

Submitted By harshi11
Words: 686
Pages: 3

Section 4.1 (pages 78-81)
Checkpoint (page 79)
Price increase the demand will decrease, as price decrease demand increase.
Checkpoint (page 80)
They have to balance out the country they are dealing with us. It’s cheaper to import goods from overseas but if goods are made in the US the quality could be much better.
Understand Marketing Concepts (page 81)
1. B.

2. D.

Think critically (page 81)
3. If price is scarce not many people are going to be able to see it.

Section 4.2 (pages 82-86)
Checkpoint (page 83)
Good Price, Get good customer.
Checkpoint (page 85)
Because people in other country really want to buy product for United States and they will pay more money and they pay for other product. And we might have right materials for our products.
Understand Marketing Concepts (page 86)
1. C.

2. D.

Think critically (page 86)
3. When I was in Connecticut there was American eagle store. After some month they open Aeropostale and they both store was in very competition and then American eagle closed their store I thing because most of their customer was gone to Aeropostale because usually American eagle is expensive then Aeropostale so most people like to buy cloth that is not too expensive.

4. People in foreign country want to buy product from United States. Foreign companies ask to United States to make them nice product and Unites States sometimes will make it for them.

Section 4.3 (pages 87-91)
Checkpoint (page 88)
Budget is a plan that helps a business determines what revenues and expenses to expect.
Estimated Financial Statements are used to project the potential for a new business.
Checkpoint (page 90)
Personal financial statement that includes a list of the owner’s assets and liabilities, personal net worth, bank references, and past credit history.
Understand Marketing Concepts (page 91)
1. C.

2. A.

Think critically (page 91)
3. Plan and estimate dollar value ahead of its time…helps plan before it happens.

4. Income Statement = shows amount of money made and lost

Balance sheet = shows assets, liabilities and owner’s equity = 9net worth0

Personal financial show an individual’s personal number

Section 4.4 (pages 92-97)
Checkpoint (page 95)
Characteristics of a creditworthy customer, Application process and approval, and Length of time for payment to be due.
Checkpoint (page 96)
The point at which a business moves from private ownership to public ownership by selling shares of the company on the stock market is called the initial public offering.
Understand Marketing Concepts (page 97)
1. B.

2. C.