WorksheetsFinal Exam Practice 12-6
Total questions: 12
Worksheet time: 6mins
If a company owes $100,000, what section of the balance sheet would this debt be placed on?
Liabilities
Equity
Revenue
Assets
Which term describes rivalry among businesses?
Scarcity
Monopoly
Competition
Struggle
When a new business is formed, money is spent on inventory, operational expenses, and marketing. What term describes these activities?
Funding rounds
Sales budget
Factoring
Start-up costs
What is the time and place where a retail transaction is completed?
Property management system
Point of sale
Account payable
Customer exchange
What formal declaration contains the values and goals of a company?
Mission statement
Income analysis
Executive summary
Competitor analysis
What document includes qualifications, duties, responsibilities, title, and pay range for a position?
Job description
Portfolio
Job application
Resumé
What term describes the type of funding used when an entrepreneur starts a company using profits and personal finances without external help or capital?
Bootstrapping
Merger acquisition
Angel investment
Crowdfunding
1. Marci has owned a successful infant girls boutique for five years. This year she has decided to add a new clothing line for infant boys. Which product concept does this change represent?
a.
b.
Niche
Pivoting
Minimal viable product
Contract manufacturing
What is needed for tax purposes when starting a business and hiring employees?
EIN
NSA
PTO
DBA
What brief presentation is a quick overview of a business that would be used during a face-to-face or online meeting with potential investors, customers, and partners?
Accelerator
Incubator
Boom start-up
Pitching
Jody wants to invest money into a business. She likes to be completely independent and make her own decisions. What would be Jody’s best option?
Work for the family business
Create a new business
Purchase a franchise
Takeover an existing business
Which pricing strategy dictates that you consider your business costs and your profit objectives?
Basic Based Pricing
Cost Based Pricing
Competition Based Pricing
Demand Based Pricing
