Business and General Knowledge Quiz

Which type of business organization has unlimited liability?

• Corporation

• Partnership

• Sole proprietorship

• Limited Liability Company (LLC)

What does the term "inflation" refer to?

• Increase in supply of goods

• Increase in prices of goods and services

• Increase in taxes

• Increase in government spending

Which of the following is an intangible asset?

• Land

• Machinery

• Goodwill

• Inventory

What is a shareholder's share of the profits called?

• Dividend

• Revenue

• Loan

• Expense

What is the primary goal of a business?

• Profit maximization

• Employee satisfaction

• Community welfare

• Environmental protection

Which of the following is a form of indirect tax?

• Income tax

• Property tax

• Sales tax

• Corporate tax

What is the term for the amount of money borrowed from a bank?

• Revenue

• Loan

• Dividend

• Equity

Which financial statement shows a company's profitability?

• Balance Sheet

• Income Statement

• Cash Flow Statement

• Equity Statement

Which planet is closest to the sun?

• Earth

• Mars

• Venus

• Mercury

What gas do plants absorb from the atmosphere?

• Oxygen

• Nitrogen

• Carbon dioxide

• Hydrogen