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Business Concepts Review

Authored by Erika Schofield

Business

10th Grade

Used 7+ times

Business Concepts Review
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23 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary goal of a business?

inventions

management

ethics

profit

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is a Franchisee?

A person or company that grants the license to a third party for the conducting of a business under the franchisor's marks.

A person or company that is granted the license to do business under the franchisor's trademark and trade name.

A business that operates independently without any association with a franchisor.

A legal agreement between two parties to share profits and losses.

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Which form of compensation will not directly impact the employee's bank account:

Hourly Pay

Salary

Commission

Benefits

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which shows a snapshot in time of a company’s asset, liabilities, and equity?

Income statement

Balance sheet

Cash flow statement

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A Mission Statement is ______.

A detailed financial report

A statement of the company's purpose and values

A list of products offered

A marketing strategy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Preferential marketing is defined as ______.

Marketing that targets specific customer preferences

A type of compensation

A financial statement

A business structure

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is a business plan?

A document outlining a company's goals and the strategy to achieve them

A financial statement of a company

A marketing strategy for a product

A legal document for company registration

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