Business Assessment

Which of the following is a key component of marketing strategy?

• Sales

• Advertising

• Distribution

• Customer Service

1. What does ROI stand for in business?

• Return on Investment

• Rate of Interest

• Revenue Over Income

• Realization of Income

1. Unlimited liability is a characteristic of a sole proprietorship

• True

• False

1. What is a trade deficit?

• • When a country exports more goods than it imports

• When a country imports more goods than it exports

• • When a country has a balanced trade between imports and exports

• When a country has no international trade

1. Which financial statement shows the profitability of a business over a specific period of time?

• Balance sheet

• Income Statement

• Cause flow statement

• Statement of retained earnings

1. What is a target market?

• • The entire population that can afford a product

• • The group of people who are most likely to dislike a product

• • The market segment with the highest competition

• • The specific group of people a business aims to sell its products or services to

1. Which of the following is an example of a push marketing strategy?

• Product placement in movies

• Influencer partnerships

• Social media marketing

• Television advertising

Which accounting equation reflects the relationship between assets, liabilities, and equity?

• • Assets = Liabilities + Equity

• • b) Assets - Liabilities = Equity

• • Assets + Liabilities - Equity = 0

• • Assets x Liabilities = Equity

What does the acronym SWOT stand for in business?

• Suppliers, Workers, Orders, Transactions

• Sales, Workforce, Outcomes, Technology

• Strategies, Weaknesses, Organizational structure, Targets

• Strengths, Weaknesses, Opportunities, Trends

1. What is the purpose of market research?

• • To identify potential customers

• To determine product pricing

• To analyze competitors

• All of the above