Grade 7 Business Basics Quiz

What is the main responsibility of management to business owners?

• Keep secrets from employees

• Achieve the highest rate of profits

• Sell the business to competitors

• Hire family members only

How should managers handle company profits?

• Spend all profits on company parties

• Keep all profits for themselves

• Reinvest profits or accumulate assets with the owner's permission

• Give all profits to customers

Why should managers provide financial information to business owners?

• To ensure owners know how the business is performing

• To confuse employees

• To avoid paying taxes

• To attract more employees

Which of the following is NOT a responsibility of management to business owners?

• Informing owners about changes in the marketplace

• Keeping proper financial records

• Paying employees with company profits

• Hiring an efficient workforce

Who is responsible for making important business decisions in a company?

• Customers

• Employees

• Managers

• Competitors

Why should businesses provide fair wages to employees?

• To keep employees motivated and satisfied

• To make customers happy

• To increase competition among workers

• To avoid following labor laws

What should a business do to ensure a safe working environment?

• Ignore safety regulations

• Provide clean and safe working conditions

• Only hire workers who do not complain

• Remove all safety equipment to save money

Which of the following is an example of unfair dismissal?

• Firing an employee for stealing

• Letting go of an employee for being consistently late

• Firing an employee for being a member of a workers' union

• Dismissing an employee for not doing their job properly

How can businesses support employee growth?

• By refusing to provide training

• By offering opportunities for education and career progression

• By keeping employees at the same job forever

• By making employees work longer hours

Why should a company provide medical assistance to employees?

• To improve employee health and productivity

• To make customers like the business

• To avoid hiring new employees

• To reduce profits