Key Terms #5 and #6

Key Terms #5 and #6

9th - 12th Grade

15 Qs

quiz-placeholder

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Key Terms #5 and #6

Key Terms #5 and #6

Assessment

Quiz

Other

9th - 12th Grade

Medium

Created by

Denine Chang

Used 5+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

An employee contract

tells only what they get paid

outlines the employee/employer obligations and terms of employment

shares only the hours an employee is supposed to work

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The order of business life cycles is:  existence, survival, succes, resource maturity, take-off, pivot or persist, exit plan

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is a fee/bonus paid for completing a task (this could be a percentage or dollar amount)?

Piece Work

Commission

Salary

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Employees who are paid for the number of items/units they produce/complete is called

Commission

Piece Work

Hourly

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

A non-cash payment that is offered instead of cash is called

Monthly Fee

Piece Work

Equity

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The Business Life Cycle definition is

a method to follow in order for you to develop a product.

the cycle an employee goes through to get hired and promoted.

the evolution of a business in a phased manner over time.

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The business life cycle stage when the owner may choose to make a profit from selling their ownership in a successful company

exit plan

resource maturity

take-off

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