Intro to Business- Mid Unit Test Review

Intro to Business- Mid Unit Test Review

11th Grade

35 Qs

quiz-placeholder

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Intro to Business- Mid Unit Test Review

Intro to Business- Mid Unit Test Review

Assessment

Quiz

Business

11th Grade

Practice Problem

Hard

NCCTE.2019.BA10.01.02

Standards-aligned

Created by

William Sing

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35 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a virtual business commonly known as?

Internet-based company

Brick-and-mortar establishment

Non-profit organization

Cooperative

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a business plan describe?

The nature of the business and its operations

The marketing strategies only

The financial planning alone

The list of competitors

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of an Executive Summary in a business context?

To provide a detailed financial report

To overview the entire business model

To give a brief overview of the marketing plan

To list the business stakeholders

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of business ownership is characterized by unlimited liability?

Corporation

Sole Proprietorship

Limited Liability Company (LLC)

Partnership

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key feature of a Limited Liability Company (LLC)?

No tax benefits

Unlimited liability for owners

Limited liability and flexible tax treatment

Owned by stockholders

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of organization does not aim to make a personal profit and is exempt from paying taxes?

Franchise

Nonprofit organization

Cooperative

Partnership

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of a "Producer" in business?

A business that sells goods directly to consumers

A business that gathers raw goods from natural resources

A business that mediates between two other businesses

A business that manages financial records

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