Entrepreneurship Week 3 Quiz

Production is a type of expense.

• True

• False

The costs involved in operating a business is called the _____________.

• service

• profit

• revenue

• expenses

A service is a physical or tangible item that can be touched and used.

• True

• False

Earnings that a business received for the goods and services it sells are called ________________.

• profit

• revenue

• business plan

• production

Goods are physical or tangible items that can be touched and used.

• True

• False

________________ is a written document that describes the strategy of creating a new business.

• Expenses

• Career

• Business Plan

• Production

All of the following are examples of a product good except:

• Shoes

• Baking

• Hair Products

• Clothing Apparel

All of the following are examples of a service except:

• Catering

• Clothing

• Carpentry

• Construction

_____________ is an example of expense.

• Customer Reviews

• Supplies for service

• Customer Service Skills

• Revenue

Revenue can also be identified as income.

• True

• False