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Chapter 12 - Principles of Business and Marketing

Authored by Vicki Stidham

Business

10th - 12th Grade

Used 7+ times

Chapter 12 - Principles of Business and Marketing
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22 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All income that a businenss receives over a period of time is called profit.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

To prepare a budget, a business must be able to identify and predict the amount of each source of income and each type of expense.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An accounts receivable record identifies the companies from which credit purchases were made and the status of each account.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assets - Liabilities = Owner's equity.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Payroll taxes consist of income taxes, Social Security, Medicare, and unemployment taxes.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The company's liabilities divided by the owner's equity is the current ratio.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business will make a profit if

Expenses are greater than revenue

revenue is greater than expenses

expenses decrease and revenue increases

revenue equals expenses

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