Business Basic Quiz

Which department is responsible for scheduling employees' vacation?

• Marketing

• Finance

• Human Resources

• Production

The membership of a partnership can range from how many persons?

• Two to twenty

• Two to fifty

• Minimum of seven

• Must not exceed two

What is a disadvantage of sole trading?

• Personal assets may be seized by creditors in satisfaction of debt

• Personal contact with customers

• Personal management of the firm

• Less consultation for decision-making

Which department is responsible for advertising the firm's goods?

• Marketing

• Personnel

• Production

• Purchasing

Which one of the following is not a profit-making business?

• The farmer sells his produce in the wholesale

• John provided a taxi service

• The neighborhood community group sells sweets and cakes in order to offset the expenses of the group

• A company charges $3000 for a shoe

Which department is responsible for creating goods/services?

• Marketing

• Finance

• Human Resources

• Production

This type of partner is involved in the day-to-day operations of the business?

• Limited liability partner

• Dormant partner

• Active partner

• Unlimited liability partner

Persons who own and operate their own business are called:

• Executives

• Operators

• Economizers

• Sole Trader

Which department is responsible for distributing the goods?

• Marketing

• Finance

• Production

• Human Resources

Which type of organization aims to generate financial gain for its owners or shareholders?

• Profit organization

• Charitable organization

• Government organization

• Non-profit organization