
First Year Business
Quiz
•
Business
•
3rd Grade
•
Practice Problem
•
Easy
Mesfin Desta
Used 2+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of the following income groups is NOT considered household income?
Wage
Salary
Self Employment Earnings
Child Benefit
All are considered household income.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One of the following does not satisfy the definition of an "employee?"
a person who works for a charity voluntarily
a farmer who works on his own farm
a civil servant who works for a government organization
a doctor who works in a hospital
Answer explanation
The main distinction between employees and volunteers is that a volunteer does not get paid and the volunteer cannot be forced to perform the actual work.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of the following cannot satisfy the definition of an "employer"?
Bill Gates
Micro-Soft
United Nations
Air Force
All of them satisfy
Answer explanation
Any person, company, or organization (governmental and non-governmental) who pays people to work for them can be an employer.
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Click the ones you think are household income.
wages and salaries
Pensions and child benefits
Windfall income
interest on savings
The value of your house
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A grant is a sum of money paid to someone for a specific reason. It does not need to be repaid. One of the following is NOT an example of a grant.
Student Loan
EU Farm Subsidy
Student Support
Covid Support for Businesses
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Why do banks and credit unions pay interest on savings?
because they loan the money to make a profit
because they want to encourage people to save more money
because they want to keep money safely
the government told them to do so
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A dividend is the portion of the company profits paid to shareholders.
True
False
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