ESB Review 1

ESB Review 1

11th Grade

19 Qs

quiz-placeholder

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ESB Review 1

ESB Review 1

Assessment

Quiz

Business

11th Grade

Practice Problem

Medium

Created by

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19 questions

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1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Subtracting liabilities from assets calculates equity. A company’s balance sheet shows assets, liabilities, and equity.

Mallory owns an auto repair shop. She has $12,000 in cash, $8,000 in inventory, a $4,000 credit card balance, and $3,500 in long-term debt. What is Mallory’s equity?

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A _______________ is a licensed business that has established operations, products or services, and branding. This business requires more money upfront but has less risk involved

franchise

partnership

corporation

restaurant

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Dividing total expenses by sales price calculates a break-even point.

Chuck owns a pizza shop. He only sells large pizzas and charges $18 per pizza. His total monthly cost is $2,600. How many pizzas does Chuck have to sell to break even each month?

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Entrepreneurs are willing to take on new opportunities and unknown __________ to grow their businesses rapidly.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is best for international businesses, have limited liability, and are double taxed.

General or Limited Partnership

C Corporation

S Corporation

Sole Proprietorship or Partnership

Limited Liability Corporation

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

A marketing method that uses customized newsletters to engage with customers is __________. [Marketing Platforms and Marketing Methods]

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Subtracting the cost of investment from the value of investment calculates net profit. Dividing net profit by the cost of investment, then multiplying the result by 100 calculates ROI.

Tina sells cookies. What is Tina’s ROI?

a. Production cost: $7.65/box of cookies

b. Selling price: $12/boxes of cookies

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