WorksheetsUnit 6 & 7 Questions
Total questions: 17
Worksheet time: 12mins
Name
Class
Date
1.
Businesses use the information collected through the accounting process to prepare accurate:
a)
balance sheets.
b)
purchase orders.
c)
inventory forms.
d)
promissory notes.
2.
Businesses would not be able to determine if they are meeting their financial goals without accurate:
a)
production plans.
b)
marketing plans.
c)
accounting systems.
d)
distribution systems.
3.
Assets a company already owns and can use to finance a new venture are called:
a)
accounts payable.
b)
dividends.
c)
return on capital.
d)
equity.
4.
What is one of the main reasons why businesses need to keep accurate accounting records?
a)
to follow procedures
b)
to control expenses
c)
to eliminate risks
d)
to regulate taxes
5.
When businesses invest funds to expand, they are involved in the process of:
a)
selling.
b)
depreciation.
c)
finance.
d)
capitalism.
6.
The role of finance in business often involves:
a)
monitoring expenses.
b)
paying employees.
c)
buying supplies.
d)
obtaining funds.
7.
Which is a characteristic of human resources management?
a)
evaluating supervisors
b)
developing leaders
c)
scheduling the work
d)
working with people
8.
A type of business ownership in which one or more of the owners does not have full liability is called a:
a)
general partnership.
b)
limited partnership.
c)
sole proprietorship.
d)
service organization.
9.
A characteristic of a sole proprietorship is that the owner:
a)
has access to unlimited funds.
b)
receives all the profit.
c)
transfers all the risk.
d)
delegates all functions.
10.
A manager who helps an employee count the money in a cash drawer and prepare a bank deposit is demonstrating:
a)
aggressive behavior.
b)
natural talent.
c)
creativity.
d)
technical skills.
11.
According to the marketing concept, which option demonstrates customer orientation?
a)
finding out what a buyer wants
b)
researching a firm's competitors
c)
convincing a buyer to buy
d)
advertising the features of a product
12.
Which would probably result if a business reduced its marketing costs?
a)
increased costs of production
b)
decreased variety of consumer goods
c)
increased consumer awareness of goods and services
d)
decreased need for customer contact with businesses
13.
One reason why human resources management is important to the success of a business is because this process is responsible for:
a)
creating jobs for the company.
b)
eliminating turnover.
c)
staffing the business.
d)
reducing compensation.
14.
John says that his job duties include planning what will be done, organizing and directing workers, and solving problems related to worker productivity. His job can best be described as a:
a)
manager.
b)
broker.
c)
cashier.
d)
bookkeeper.
15.
How frequently should the operations function, which consists mainly of activities, be performed?
a)
monthly
b)
weekly
c)
daily
d)
yearly
16.
Which do managers often set in order to control the work effort?
a)
hiring objectives
b)
job standards
c)
expense budgets
d)
diversity quotas
17.
The Scott Company decided to sell stock to raise capital. Under what form of business organization does the company operate?
a)
partnership
b)
cooperative
c)
corporation
d)
proprietorship
100 %
