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Worksheetshow to start a business!
Total questions: 101
Worksheet time: 1hrs 2mins
Name
Class
Date
1.
Which job below is NOT associated with Accounting?
a)
Paying Bills
b)
Collecting Money
c)
Payroll Checks
d)
Pricing Items
2.
What role can someone in Management have?
a)
Meet Goals and Obligations
b)
Works with People in an Organization
c)
Use resources to accomplish Goals
d)
All Answers are roles of Management
3.
Which answer below is one of the 4 P's of Marketing
a)
Placement
b)
Process
c)
Plan
d)
Pay
4.
Which answer below is NOT apart of the Information Technology field?
a)
Work with Software Applications
b)
Work on Hardware for Technology Use
c)
Behind the Scenes Paperwork
d)
Keep Email accounts working
5.
People in Operations field will...
a)
Complete behind the scenes paperwork
b)
Manage People
c)
Help develop skills
d)
Pay Bills
6.
The Human Resources Department
a)
Manage People
b)
Help Develop Skills
c)
Hire and Fire
d)
All of these are correct
7.
A Business owned by 1 Person
a)
Sole Proprietorship
b)
Partnership
c)
Franchise
d)
Corporation
8.
A Business owned by two or more people
a)
Sole Proprietorship
b)
Partnership
c)
Franchise
d)
Non-Profit Organization
9.
A contract between a parent company and a franchisee to use the name and see the goods or services of the parent company.
a)
Franchise
b)
Corporation
c)
Non-Profit Organization
d)
Partnership
10.
A business whose goal is to provide a service rather than to make a profit.
a)
Non-Profit Organization
b)
Multinational Corporation
c)
Corporation
d)
Franchise
11.
A business considered separate from the owners of the business by law.
a)
Corporation
b)
Multinational Corporation
c)
Partnership
d)
Sole Proprietorship
12.
The process of recording and reporting the financial data for a business.
a)
Accounting
b)
Management
c)
Marketing
d)
Information Technology
13.
The process of leading and directing all or part of an organization.
a)
Management
b)
Marketing
c)
Information Technology
d)
Operations
14.
The process of creating, promoting, and presenting a product to the consumers.
a)
Marketing
b)
Information Technology
c)
Operations
d)
Human Resources
15.
The process of developing, installing, and implementing computer information systems and applications.
a)
Information Technology
b)
Operations
c)
Human Resources
d)
Accounting
16.
The activities involved in the day-to-day running of a business for the purpose of producing value for the steakholders.
a)
Operations
b)
Human Resources
c)
Accounting
d)
Marketing
17.
The activities that deal with the hiring, firing, training and other personnel (employee) issues.
a)
Human Resources
b)
Accounting
c)
Management
d)
Marketing
18.
Which of the following is does NOT provide a good?
a)
Lawyer's Office
b)
CD Store
c)
Rug Cleaning
d)
Lawn Mowing
19.
Which of the Following provides a service?
a)
Rug Cleaning
b)
CD Store
c)
Clothing Store
d)
Sporting Goods Store
20.
Which of the following provides both goods and services?
a)
Beauty Shop
b)
Rug Cleaning
c)
Lawn Mowing
d)
Clothing Store
21.
What is a business owned and operated by one person?
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
22.
What is a business owned by stockholders/investors but operated by others?
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
23.
What is a business owned and operated by two or more people?
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
24.
What is ONE advantage of a sole proprietorship?
a)
You make ALL the decisions
b)
Easy to raise money
c)
You have to share profits
25.
Which is ONE disadvantage of Sole Proprietorship?
a)
Less direct control
b)
Disagreements
c)
Hard to raise money
26.
What is ONE advantage of a Partnership?
a)
Someone else can help with decisions, etc.
b)
Double taxes
c)
Disagreements
27.
What is ONE disadvantage of a Partnership?
a)
Easier to start
b)
Have to share the profits
c)
Help in making decisions
28.
What is ONE advantage of a Corporation?
a)
Difficult to start
b)
Make all of the decisions
c)
Easy to raise money!
29.
What is ONE disadvantage of a Corporation?
a)
Disagreements
b)
Less direct control
c)
The risk is all on one person
30.
Which business type makes up approximately 75% of all businesses?
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
31.
In this type of business, the owner is responsible for all debts.
a)
Corporation
b)
Sole-Proprietorship
c)
Partnership
d)
Cooperative
32.
A business that takes natural resources and converts them into a consumer good.
a)
Extrator
b)
Manufacturer
c)
Marketer
d)
Wholesaler
33.
A form of production that makes a product to fit one customers needs.
a)
Mass Production
b)
Bulk Manufacturing
c)
Custom Manufacturing
d)
Marketing
34.
A parent company of a franchise is known as:
a)
Franchisee
b)
Franchisor
c)
Big Daddy
d)
All of the Above
35.
Which of the following is an activity performed by businesses?
a)
Generating Ideas
b)
Raising Capital
c)
Keeping Records
d)
All of the Above
36.
A group that is in charge of making business decisions for a corporation.
a)
Staff
b)
Board of Directors
c)
Management
d)
Proprietors
37.
A type of business that moves goods from the manufacturer to the consumer.
a)
Marketer
b)
Extractor
c)
Manufacturer
d)
Wholesaler
38.
A mining company is an example of a(n) _______________ because they take resources from the earth
a)
Extractor
b)
Natural Resource Company
39.
True/False. A partnership usually issues stock to raise capital._______
a)
False
b)
True
40.
A manager who provides leadership within the company or interacts with others outside the organization is
said to be working within his or her
said to be working within his or her
a)
information-related role
b)
decision-making role
c)
interpersonal role
d)
required role
41.
"Management" is the...
a)
process of dealing with or controlling things or people
b)
the efficient and effective management of
money
c)
all information systems that support the storage, retrieval
and maintenance of information
42.
"Financial Management" is the management of...
a)
products
b)
money
c)
shoes
43.
"Human Resources" deals with...
a)
the hiring, administration, and training of personnel
b)
all information systems
c)
dealing with or controlling things or people
44.
"Information Systems" support...
a)
the process of dealing with or controlling things or people
b)
deals with the hiring, administration, and training of personnel
c)
the storage, retrieval and maintenance of information
45.
"Marketing" a product includes...
a)
exchange of a commodity for money
b)
the action or business of promoting and selling products or services
c)
the action or activity of gathering information about consumers' needs and preferences
46.
"Sales" of a product includes...
a)
exchange of a commodity for money
b)
the action or business of promoting and selling products or services
c)
the action or activity of gathering information about consumers' needs and preferences
47.
Being an "entrepreneur" means someone...
a)
exchanges of a commodity for money
b)
who organizes, manages, and assumes the risks of a business
c)
gathers information about consumers' needs and preferences
48.
The best definition of "merchandising" includes...
a)
exchanges of a commodity for money
b)
who organizes, manages, and assumes the risks of a business
c)
the variety of products available for sale and the display of those products in such a way that it stimulates interest and entices customers to make a purchase
49.
A "promotion"...
a)
raises customer awareness of a product or brand
b)
who organizes, manages, and assumes the risks of a business
c)
the variety of products available for sale
50.
"Market research" is the process of gathering...
a)
raising customer awareness of a product or brand
b)
information about consumers' needs and preferences
c)
shoes
51.
Setting a limit on the quantity of a product that may be imported or exported within a given period to regulate international trade is called?
a)
Tariff
b)
Embargo
c)
Quota
d)
Deal
52.
___________ is a tax that a government places on certain imported products
a)
Tariff
b)
Embargo
c)
Quota
d)
Deal
53.
Stopping the export and import of a product is known as?
a)
Tariff
b)
Embargo
c)
Quota
d)
Deal
54.
These are typically found in airports & seaports and do not follow the regular trade customs and are considered duty-free
a)
Free-trade zones
b)
Free-trade agreements
c)
non-tariff alliances
d)
Common markets
55.
__________________ reduces trade barriers and encourages trade between countries.
a)
Free-trade zones
b)
Free-trade agreements
c)
non-tariff alliances
d)
Common markets
56.
Members do away with duties and other trade barriers - they allow companies to invest freely in each member’s country •ex. EU (European Union)
a)
Free-trade zones
b)
Free-trade agreements
c)
non-tariff alliances
d)
Common markets
57.
Purchasing the right to use a company name or business process in a specific way ex. McDonald’s, Burger King, KFC and Pizza Hut • •
a)
Licensing
b)
Joint venture
c)
Franchising
d)
Infrastructure
58.
Sports teams having their logo on memorabilia is considered?
a)
Licensing
b)
Joint venture
c)
Franchising
d)
Infrastructure
59.
An agreement between two or more companies to share a business project - this business is on a limited basis for control
a)
Licensing
b)
Joint venture
c)
Franchising
d)
Infrastructure
60.
A country being able to make a product or service at a lower cost than other countries is considered?
a)
Absolute advantage
b)
Concerning advantage
c)
Comparative advantage
d)
Available advantage
61.
There are ___ required parts of the business letter.
a)
3
b)
6
c)
7
d)
5
62.
Julie Henderson
123 Main Street
Lenexa, KS 66222
is an example of what part of the business letter?
a)
Heading
b)
Signature Line
c)
Recipients Address
d)
Body
63.
Dear Mrs. Collins, (comma)
is a proper Salutation for a business letter.
a)
TRUE
b)
FALSE
64.
Dear Mr. Zuck:
is an example of a...
is an example of a...
a)
Subject Line
b)
Salutation
c)
Greeting
d)
Complimentary Closing
65.
Sincerely,
is an example of a...
is an example of a...
a)
Closing Line
b)
Signature Line
c)
Complimentary Closing
d)
Complimentary Line
66.
There are 4 enters after the _____________ and __________.
a)
Heading and Salutation
b)
Complimentary Closing and Recipients Address
c)
Complimentary Closing and Salutation
d)
Body and Recipients Address
67.
Why are there 4 enters after the complimentary closing?
a)
To make room for the letterhead
b)
To make room for the body
c)
To make room for your signature
d)
To maker room for your address
68.
When you sign a letter, it can only be in what 2 colors of ink?
a)
Red or Black
b)
Blue or Red
c)
Black or Blue
d)
Pencil or Blank Ink
69.
The heading includes...
a)
Your Address and Date
b)
Recipients Address and Date
c)
Your Address
d)
Your Address and Time
70.
There is a 2 inch top margin set for what purpose?
a)
Room for the signature line
b)
For the letterhead
c)
For you to sign your name
d)
For the business' address
71.
__ spaces separate the zip code and state of any address
a)
4
b)
1
c)
2
d)
3
72.
4/5/2017 is an appropriate date to use in a business letter.
a)
TRUE
b)
FALSE
73.
Which of the following is not something you need to do before you start typing the actual letter?
a)
Change Margins (1 inch top, bottom, left, and right)
b)
Set After spacing to 0
c)
Change font to a Serif font
d)
Change font size to 12 minimum n
74.
The correct punctuation to use after a salutation is
a)
A comma only
b)
A colon only
c)
A comma or colon
d)
A colon or exclamation mark
75.
There are 2 different kinds of fonts that can be used to write a formal business letter. What are they called?
a)
With and WIthout Feet
b)
Script and decorative
c)
Serif and Sans Serif
d)
Bold and Italicized
76.
The margins for a business letter are
a)
2 inch top, 1 inch left, right, and bottom
b)
1 inch top, right, left, and right
c)
2 inch top & bottom and 1 inch right & left
d)
1 inch top, 2 inch right, left, bottom
77.
The last part of a business letter is the
a)
Complimentary Closing
b)
Salutation
c)
Signature Line
d)
Signed Signature
78.
Which part of the letter is the date included in?
a)
Body
b)
Heading
c)
Recipients Address
d)
Complimentary Closing
79.
What type and size should the font be for a business letter?
a)
11, Times New Roman
b)
13, Script
c)
12, Times New Roman
d)
10, Courier
80.
Serif means_____
a)
Foot
b)
Lines
c)
Curves
d)
Shoes
81.
Which business has the slogan "I'm lovin' it"?
a)
Burger King
b)
McDonalds
c)
Subway
d)
KFC
82.
Which business has the slogan "Impossible is Nothing"?
a)
Nike
b)
Converse
c)
Adidas
d)
Puma
83.
Which business has the logo "Think Different"?
a)
Apple
b)
Nokia
c)
Microsoft
d)
LG
84.
Which business has the slogan "It's the real thing!"?
a)
Pepsi
b)
Fanta
c)
Sprite
d)
Coca Cola
85.
Which business has the slogan "Put a tiger in your tank"?
a)
Esso
b)
Shell
c)
BP
d)
Texaco
86.
Which business has the slogan "Betcha can't eat just one"?
a)
Walkers
b)
Lays
c)
Cheetos
d)
Pringles
87.
Which business has the slogan "The appliance of science"?
a)
Zanussi
b)
Beko
c)
Samsung
d)
Hoover
88.
Which business has the slogan "Think Small"?
a)
Ford
b)
Audi
c)
Jaguar
d)
Volkswagen
89.
Which business has the slogan "Every little helps"?
a)
Sainsburys
b)
Tesco
c)
Asda
d)
Morrisons
90.
Which business has the slogan "Dees exactly what it says on the tin"?
a)
Dulux
b)
Ronseal
c)
B&Q
d)
Wickes
91.
Which business has the slogan "It's a bit of an animal"?
a)
Pataks
b)
Pringles
c)
Pepperami
d)
Pot Noodle
92.
Which business has the slogan "Maybe she's born with it?"
a)
Maybelline
b)
L'Oreal
c)
Rimmel
d)
MAC
93.
Which business has the slogan "The Ultimate Driving Machine"?
a)
BMW
b)
Jaguar
c)
Audi
d)
Range Rover
94.
Which business has the slogan "Melts in your mouth, not your hands"?
a)
Galaxy
b)
Smarties
c)
M&Ms
d)
Dairy Milk Fruit & Nut
95.
Which business has the slogan "Vorsprung durch technik"?
a)
Range Rover
b)
Audi
c)
Jaguar
d)
BMW
96.
Someone who creates their own business is called a(n)...
a)
Entrepreneur
b)
Billionaire
c)
Investor
d)
Stock Holder
97.
Which industrialist is best known for his work in the steel industry?
a)
Charles Lindberg
b)
Andrew Carnegie
c)
John Rockefeller
98.
Oil industry
a)
Cornelius Vanderbilt
b)
Andrew Carnegie
c)
John D. Rockefeller
d)
Abraham Lincoln
99.
Steel industry
a)
Andrew Carnegie
b)
John D. Rockefeller
c)
Cornelius Vanderbilt
100.
a highly populated city area
a)
rural
b)
urban
c)
suburban
d)
agricultural
101.
(BONUS) who do you need to sell to?
a)
customer
b)
consumer
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