Final Exam Business

Which of the following is NOT a common way businesses pay employees?

• bi-weekly
• monthly
• weekly
• yearly

A W-2 is a summary of a worker’s earnings for the previous year and includes the amount deducted for taxes.

• True
• False

All of the following are private businesses that collect/publish financial info on similar businesses/industries EXCEPT

• Standard and Poor’s.
• Value Line.
• the National Federation of Independent Business
• Dun and Bradstreet.

At the end of a period covered by a budget, the business will prepare new financial statements.

• True
• False

Which of the following would NOT be considered one of the marketing functions?

• pricing
• repairing
• promotion
• selling

Services are intangible; This means that

• They have no physical form.
• Their availability must match demand at a specific time
• they cost more than products
• There will be differences in the type & quality of service

Which of the following is NOT a c from the Three Cs of Credit?

• capital
• capacity
• creativity
• character

After several new product ideas have been generated, companies will

• produce a few and test them to see which is most popular
• develop marketing strategies for all of them
• evaluate the ideas to determine which is most likely to work
• determine a production proceedure

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

• True
• False

Except for some retirement accounts, the FDIC insures all accounts in the same name at each bank up to an amount of

• $25,000.
• $250,000.
• $2,500.
• $2,500,000.