BMII OBJ 5.02 Review
Quiz
•
Business
•
9th - 12th Grade
•
Practice Problem
•
Easy
Sheila MillbrookHS
Used 3+ times
FREE Resource
Enhance your content in a minute
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The most important reason for budgeting is to
plan for retirement.
save for a rainy day.
accomplish a financial goal.
increase personal wealth.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The definition of a budget is
a method for evaluating a manager’s performance.
a plan for limiting your personal spending.
an estimate of income and expense for a specific period.
the key to a business’s success.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Budgets can be described in terms of
account books, bills, and bankruptcy.
desires, debt, and discipline.
money, maps, and management.
savings, sales, and success.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In budgeting, utility bills, salaries, advertising, equipment purchases, taxes, and loans are examples of
business expense.
business income.
financial goals.
spending controls.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
By regularly reviewing their budgets, businesses are able to determine if they are
paying interest to customers.
following their financial plans.
offering loans to employees.
receiving discounts from vendors.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a business owner or manager uses a budget, s/he
can more accurately evaluate employees.
demonstrates leadership.
has to try to make it interesting.
makes more informed decisions.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the relationship between a business’s goals and its budget?
Budgets reflect real business activity while goals are usually unrealistic.
Budgets translate a company’s goals into actual means for accomplishing them.
Goals are established after the budget so that they are realistic.
Goals state the big picture and are unrelated to a detailed budget.
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