Business Essentials Practice

Business Essentials Practice

11th Grade

100 Qs

quiz-placeholder

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Business Essentials Practice

Business Essentials Practice

Assessment

Quiz

Business

11th Grade

Practice Problem

Medium

Created by

Maria Moran

Used 129+ times

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100 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business that buys goods or services and sells them to the ultimate consumer is known as?

manufacturer

producer

retailer

wholesaler

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Candy Store is selling more and more chocolate each quarter. Applying the law of supply and demand, what is most likely to happen over the next few quarters?

The price will increase, and the supply will increase.

The price will decrease, and the supply will increase.

The price will increase, and the supply will decrease.

The price will decrease, and the supply will decrease.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary reason customers give for not returning to a business?

lack of available parking

lack of advertised merchandise

lack of courtesy from salespeople

lack of customer-service personnel

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do service businesses sell?

raw goods and services

retail goods and services

intangible goods and services

wholesale goods and services

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which behavior best describes the primary business activity of operations?

hiring qualified employees

planning for future success

producing goods and services

keeping accurate financial records

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The accounting document that shows a business’s revenue and expenses is known as a/an?

balance sheet

income statement

cash flow statement

statement of owner’s equity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which document, provided either in paper format or in electronic format from a prospective employer’s website, does a company use to collect employment information about a candidate?

license

résumé

job application

letter of application

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