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WorksheetsMock CBT Test
Total questions: 60
Worksheet time: 2hrs 0mins
The amount paid for insurance is the
closing cost
deductible
assessed value
premium
VAT stands for ...
Very Autocratic Triangle
Value Added Tax
Very Artistic Teacher
Virtual Appliance technology
Operational planning is for ____________ goals.
Long-term
Short-term
does not follow time
none of the above
A compensation is _______________
form of payment from an employer to an employee
A percentage of the sales
The combination of salary and fringe benefits an employer provides to an employee.
A monetary compensation paid by an employer to an employee in exchange for work done.
_____________ is used to track relevant business metrics
Induction session
Work hours
KPI
None of the above
How to calculate employees holiday entitlement
multiply the number of days a week they work by 5.6
multiply the number of days a week they work by 6.5
multiply the number of days a month they work by 5.6
multiply the number of days a year they work by 5.6
_____________are used to communicate with individuals outside of the office.
Business letters
Emails
Instructions and procedures
Manuals
If you intended to inform a group of people about a specific issue you would normally use a _________.
Memo
Letter
Flyer
Procurements is
The process of hiring people in the firm
the sequence of scheduled activities that determines the duration of the project
The process of finding and agreeing to terms, and acquiring goods, services, or works from an external source
A chart that is developed as a production control tool
What role does insurance play in financial planning?
It grows in value and appreciates over time
HI
It helps build and maintain one's credit score
It guarantees that income and assets are protected
It helps cover day-to-day expenses
____is the process of determining whether a business idea is viable. It is the primary evaluation of the business.
Feasibility Analysis
Business Plan
Howard Plan
None of the Above
The financial plan presents ______ for the future of the business.
finances
studies
trends
forecasts
all the policies, practices, and procedures used to develop the knowledge, skills, and competencies of staff are called …
a. staff induction
b. staff skills
c. staff development
d. staff performance
Holiday entitlement is
Unresolved issues
Employment rights
Work plan
All of the above
What role do auditors play in the running of a company
Convening of all meetings
Keeping all company records
Reviewing and reporting on the company accounts
concluding contracts on behalf of the company
Which is a benefit of generating a Gantt chart for your stakeholders, sponsors and team members?
Shows clarity of multiple tasks
Identifies all the stakeholders and their requirements
Lists risks and intended courses of action if these events occur
Review all tasks
............ is a range of providers and entities supporting the goals and objectives of an individual or company
Lenders
Sponsors
Managament
all of the above
.......................documents that provide requirements, specifications, guidelines, or characteristics that can be used consistently to ensure that materials
Risks associated
quality standards
Report Requirement
All of the above
...................is a preliminary bill of sale sent to buyers in advance of a shipment or delivery of goods and is not registered in the accounting books
Receipt
Invoice
Proforma Invoice
Bill
Provides additional information or acknowledges sources for text in a document and that appears at the bottom of the page on which the note reference mark appears.
Footnote
Header
Margins
Citation
Define Promotion.
Any from of communication a business or organisation uses to inform, persuade, or remind.
The number of different product lines a manufactures or sells
The process of creating, growing, and manufacturing
A fact about or characteristic of the product
Feature
Marketing
Pricing
Product
The form of promotion that determines client needs and wants and responds through planned, personalized communication that influences purchase decisions and enhances future business opportunities
Personal selling
Feature
Producers
Publicity
Promotional activities other than advertising, personal selling, and publicity that
stimulate customer purchases
Sales Promotion
Services
Publicity
Pricing
This refers to the arrangement of elements on the page.
purpose
content
layout
footer
Visual representation of the website's structure; blueprint of website
Site Map
Site Nap
Web Map
Web Nap
What is a business plan?
Written document that only outlines the business practices of the new business.
Written document that describes the financial aspects of the business.
Written document that only describes the ownership of the business.
Written document that describes all the steps necessary for opening and operating a successful business.
What does the R in SMART stand for?
Responsible -a goal must allow you to take charge.
Realistic - a goal must be realistic in how long it will take, and the steps taken to achieve it.
Respectful - a goal must allow you to be kind and polite.
Repeatable - you must be able to do the goal over and over again.
What are stakeholders?
Anybody who knows the name of the business
Anybody who takes an interest in a business
Anybody who works for the business
Anybody who buys from the business
What are the three major types of ownership?
Franchise, Cooperative, Partnership
Proprietorship, Partnership, Corporation
Corporation, Franchise, Non-Profit
LLC, S-Corp, Corporation
A business started by someone who notices a need for a product or service is:
Entrepreneurship
Entrepreneur
Entrepreneurial
Small Business
A business that operates on the Internet:
dot.corp
virtual business or dot.com
entrepreneurship
small business
Many small businesses have an advantage over larger businesses because they are better able to ________.
raise large amounts of financial capital
mass produce products
provide unique services to customers
market their products
A written document containing the nature of the business, goals, marketing plan, financial plan, and organizational plan is called a:
Business plan
Mission statement
Procedure
Standard
Steps to creating a total quality management system include:
Clarify Vision, Mission and Values
Identify Critical Success Factors (CSF)
Identify Key Customer Group and solicit Customer Feedback
All of the above
Cash float is the-
cashier’s personal cash
cash kept in the bank
cash with the manager
supplies of change kept in the cash box before the sales start
Tender change means -
the change given back to the customer
cash taken for the product
cash that is still in cash box
Cash float must be
Deducted from takings at the end of the day
Added to takings at the end of the day
Returned to the bank
What is a Point of Sale?
The physical location at which goods are sold to customers
Any device or system used to record the transaction for the retailer.
A computer-based POS which employs software to run the POS
All of the above
What is the main advantage for a retailer of using Electronic Funds Transfer at Point Of Sale (EFTPOS)?
Provide options for payments.
Perform sales trends analysis.
Requires a physical visit to the store.
Instant transfer to business account.
Reconciliation is the process of-
Verifying the recording of transactions to ensure that all transactions are complete, authorized, recorded and deposited timely.
Informing the manager about all errors
Signing off all incorrect records.
Identifying all errors and entering the wrong data in the computer
Another customer Y entered the minimarket and bought some grocery. When she checked out with Ali, the total amount was 156 SAR, she gave him 200 SAR. Ali is supposed to give her back? (Unit 28, klo1-1.j)
44 SAR
56 SAR
50 SAR
100 SAR
Favorable balance of cashbook implies that:
Credit balance of cashbook.
Debit balance of cashbook
Bank overdraft.
Adjusted balance of cashbook.
A cash deposit made by business appears on the bank statement as _______ balance.
Debit
Credit
Expenses
Liability
Bank charges amounting to $5,000 was not entered in the cashbook. Identify the correct adjustment in cashbook.
Bank charges will be debited in cashbook.
Bank charges will be added to cashbook balance.
Bank charges will be credited in cashbook.
Bank charges need no adjustment in cashbook.
Cashbook with cash and discount column is mostly referred as:
Simple cashbook
Two-column cashbook
Three-column cashbook
Petty cashbook
The primary objective of financial reporting is to provide information: (Unit 30- klo1-2b)
About a firm's financing and investing activities.
About a firm's economic resources and obligations.
About a firm's product lines.
Useful in predicting cash flows.
The documents that set forth fundamental concepts on which financial accounting and reporting standards will be based are: (Unit 30- klo1-2b)
Statements of Financial Accounting Standards.
Statements of Financial Accounting Concepts.
Accounting Principles Board Opinions.
All of the above.
