Business Essentials Practice

Front

A business that buys goods or services and sells them to the ultimate consumer is known as? Options: manufacturer, producer, retailer, wholesaler

Back

retailer

Front

The Candy Store is selling more and more chocolate each quarter. Applying the law of supply and demand, what is most likely to happen over the next few quarters?

Back

The price will increase, and the supply will decrease.

Front

What is the primary reason customers give for not returning to a business?

Back

lack of customer-service personnel

Front

What do service businesses sell?

Back

intangible goods and services

Front

Which behavior best describes the primary business activity of operations? Options: hiring qualified employees, planning for future success, producing goods and services, keeping accurate financial records

Back

producing goods and services

Front

The accounting document that shows a business’s revenue and expenses is known as a/an?

Back

income statement

Front

Which document, provided either in paper format or in electronic format from a prospective employer’s website, does a company use to collect employment information about a candidate?

Back

job application

Front

Kathy wants to know whether her boutique made or lost money this month. What financial document should she view?

Back

income statement

Front

Jordan owns a successful landscaping business. Landscaping is an example of a/an?

Back

service

Front

What are the two main divisions of the trade industry?

Back

wholesalers and retailers