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WorksheetsA Level Business
Total questions: 35
Worksheet time: 2hrs 36mins
Name
Class
Date
1.
An entrepreneur is someone
a)
Someone who works for a new business
b)
Someone who starts a new business
c)
Someone who takes over an existing business
d)
Someone who does not want to work
2.
Most entrepreneurs start what type of business?
a)
Partnership
b)
Corporation
c)
Sole Proprietorship
3.
An entrepreneur must know...
a)
Only the parts of the business they like
b)
No parts of the business management
c)
all parts of business: finance, marketing, etc.
4.
Name one of the reasons people become entrepreneurs.
a)
Feeling insecure
b)
They like to be the ONLY one doing everything
c)
They are doing what they enjoy
5.
Which of the following is the definition for sole proprietorship
a)
business investment that involves renting or leasing another successful business model
b)
unincorporated business owned and run by a single person who has rights to all profits and unlimited liability for all debts of the firm; most common form of business organization in the United States
c)
unincorporated business owned and operated by two or more people who share the profits and have unlimited liability for the debts and obligations of the firm
d)
form of business organization recognized by law as a separate legal entity with all the rights and responsibilities of an individual, including the right to buy and sell property, enter into legal contracts, and to sue and be sued
6.
Which of the following is the definition for Franchise
a)
business investment that involves renting or leasing another successful business model
b)
unincorporated business owned and run by a single person who has rights to all profits and unlimited liability for all debts of the firm; most common form of business organization in the United States
c)
unincorporated business owned and operated by two or more people who share the profits and have unlimited liability for the debts and obligations of the firm
d)
form of business organization recognized by law as a separate legal entity with all the rights and responsibilities of an individual, including the right to buy and sell property, enter into legal contracts, and to sue and be sued
7.
Which of the following is the definition for Corporation?
a)
business investment that involves renting or leasing another successful business model
b)
unincorporated business owned and run by a single person who has rights to all profits and unlimited liability for all debts of the firm; most common form of business organization in the United States
c)
unincorporated business owned and operated by two or more people who share the profits and have unlimited liability for the debts and obligations of the firm
d)
form of business organization recognized by law as a separate legal entity with all the rights and responsibilities of an individual, including the right to buy and sell property, enter into legal contracts, and to sue and be sued
8.
Which of the following is the definition for Partnership?
a)
business investment that involves renting or leasing another successful business model
b)
unincorporated business owned and run by a single person who has rights to all profits and unlimited liability for all debts of the firm; most common form of business organization in the United States
c)
unincorporated business owned and operated by two or more people who share the profits and have unlimited liability for the debts and obligations of the firm
d)
form of business organization recognized by law as a separate legal entity with all the rights and responsibilities of an individual, including the right to buy and sell property, enter into legal contracts, and to sue and be sued
9.
Which of the following is an advantage of a sole proprietorship
a)
easy to start up
b)
Decisions do not require the approval of a co-owner, boss, or other "higher-up
c)
the owner can keep the profits of successful management without having to share them with other owners.
d)
All the other options
10.
Which of the following is NOT one of the six basic activities that all businesses perform?
a)
raising capital
b)
buying goods and services
c)
conserving resources
d)
generating ideas
11.
A ________ must name a board of directors that will make the major policy and financial decisions for the business.
a)
limited liability company
b)
proprietorship
c)
corporation
d)
limited liability partnership
12.
A retailer is an example of a(n)
a)
extractor
b)
producer
c)
intermediary
d)
service business
13.
In what type of business organization is each owner personally liable for all business debts, even if the debts were created by other owners?
a)
corporation
b)
partnership
c)
proprietorship
d)
S corporation
14.
Over the past 50 years, the proportion of women who work outside the home has
a)
stayed almost the same
b)
grown very slowly
c)
declined slightly
d)
grown significantly
15.
A(n) ______ is a short, specific written declaration of the reason a business exists and what it wants to achieve.
a)
statement of intent
b)
affirmation of purpose
c)
mission statement
d)
declaration of principle
16.
Which of the following best describes quality?
a)
The service provided to a customer before, during and after purchasing.
b)
Products being made to a high standard to meet customer needs.
c)
A high level of productivity.
17.
Who needs to be satisfied with the quality of products?
a)
Rivals
b)
Suppliers
c)
Customers
18.
Which of the following is usually true about poor quality products?
a)
They are in demand
b)
They fail to meet customers expectations
c)
They are expensive
19.
What happens when a business produces faulty goods?
a)
It increases costs
b)
It increases costs and damages the reputation of the firm
c)
It is an example of Total Quality Management
20.
What is customer service?
a)
The service provided to customers before, during and after purchasing a product
b)
When a business meets customer needs
c)
A method of production
21.
When products are checked at each stage of production, what is this an example of?
a)
Quality Control
b)
Quality Circles
c)
Quality Assurance
22.
When products are checked throughout the production process this is called
a)
Quality Circles
b)
Quality Assurance
c)
Quality Control
23.
When products are checked at the end of the production process this is called
a)
Quality Assurance
b)
Quality Circles
c)
Quality Control
24.
All true communication must have the following:
a)
A sender and a receiver
b)
A speaker and a listener
c)
A hearer and a listener
d)
A speaker and an interpreter
25.
If you are practicing CLEAR SPEAKING habits, you must do one of the following:
a)
Listen carefully
b)
Speak directly to a person or a group
c)
Use a microphone so that the group can hear you clearly
d)
Give out an outline
26.
The pitch or loudness of your voice is called:
a)
Pronunciation
b)
Enunciation
c)
Inflection
d)
Temper
27.
An example of active listening is:
a)
Listening close and taking good notes
b)
Skimming the outline carefully
c)
Moving around while others speak
d)
Focusing on main ideas being communicated and responding with full attention
28.
One of the following is NOT a Reading Technique. Which one is it?
a)
Silent Reading
b)
Previewing
c)
Skimming
d)
Finding Context Clues
29.
What is start up capital?
a)
Finance needed before starting trading.
b)
Finance paid after trading.
c)
Finance paid to banks.
30.
Profit is important to businesses because:
a)
it improves businesses, cash balances
b)
it can be used to measure business size
c)
it is a measure of businesses, success
d)
businesses need to pay taxes to the government
31.
Working capital is sometimes called as...
a)
life of money
b)
life of blood
c)
life of soul
d)
life of human
32.
An example of working capital is...
a)
pay electricity bills.
b)
pay machinery.
c)
pay rent cost.
d)
pay insurance.
33.
What is asset?
a)
An item of property owned by a person or company
b)
An item owned by a business that lasts for several years.
34.
What is capital expenditure?
a)
Money spent on variable assets lasting 1 year
b)
Money spent on fixed assets lasting 1 year
c)
Money spent on variable assets lasting 10 years
d)
Money spent on fixed assets lasting 10 years
35.
What is NOT a source of Internal finance?
a)
Retained profit
b)
Sale of existing assets
c)
Issue of shares
d)
All are sources of Internal finance
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