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Business and general knowledge

Total questions: 60

Worksheet time: 2hrs 58mins

Name
Class
Date
1.
This type of business is owned by one person.
a)
Partnership
b)
Sole Proprietorship
c)
Corporation
d)
Franchise
2.
Advantages of this business type are that the owner is their own boss and gets to keep all the profits.
a)
Partnership
b)
Sole Proprietorship
c)
Corporation
d)
Franchise
3.
Disadvantages for this type of business include: owner pays for everything, hard to get money to start from the bank, owner might lack skills & unlimited liability.
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
d)
Franchise
4.
A business owner who prefers to maintain complete control of all business activities might consider structuring the venture as a(n)
a)
sole proprietorship
b)
general partnership.
c)
franchise
d)
 corporation.
5.
Which of the following is a disadvantage of corporations:
a)
High taxes
b)
Unlimited life
c)
Unlimited liability
d)
financial power
6.
The owners of a corporation are called
a)
Directors
b)
Partners
c)
Shareholders
d)
Founders
7.
How many countries are there in our planet?
a)
194
b)
56
c)
101
8.
How many bones does an adult human have in total?
a)
206
b)
106
c)
306
9.
Which is the smallest country in the world?
a)
Switzerland
b)
Luxembourg
c)
The Vatican
10.

What is a business plan?

a)

Written document that only outlines the business practices of the new business.

b)

Written document that describes the financial aspects of the business.

c)

Written document that only describes the ownership of the business.

d)

Written document that describes all the steps necessary for opening and operating a successful business.

11.
An analysis of the business’s advantage over its competitors
a)
Growth Plan
b)
Competitive Analysis
c)
Contingency Plan
d)
Market Analysis
12.
A brief account of the key points contained in a business plan
a)
Executive Summary
b)
Company Description
c)
Mission Statement
d)
Vision Statement
13.

capable of being employed

a)

employability

b)

resume

c)

trustworthy

d)

career

14.

being, relating to, or involving relations between persons

a)

interpersonal

b)

employee

c)

relatives

d)

corporation

15.

1 : the introduction of something new

2 : a new idea, method, or device : novelty

a)

professionlism

b)

innovation

c)

procedure

d)

readiness

16.

Specific skill requirements that summarizes the competencies, knowledge, skills, abilities, and behaviors directly related to performance on the job.

a)

work readiness

b)

resume

c)

professionalism

d)

work study

17.

firm adherence to a code of especially moral or artistic values

a)

integrity

b)

perseverance

c)

bravery

d)

encouragement

18.

an obligation or willingness to accept responsibility or to account for one's actions

a)

accountablity

b)

willpower

c)

patience

d)

understanding

19.

being on time

a)

punctuality

b)

bravery

c)

work readiness

d)

integrity

20.

the conduct, aims, or qualities that characterize or mark a profession or a professional person

a)

professionalism

b)

perseverance

c)

self-control

d)

team spirit

21.

The ways in which your company communicates and deals with existing customers

a)

customer relationships

b)

employee skills

c)

resume building

d)

professional meetings

22.

1: being ready and quick to act as occasion demands 2 : performed readily or immediately

a)

prompt

b)

leisurely

c)

patience

d)

readiness

23.

The act of mindfully hearing and attempting to comprehend the meaning of words spoken by another in a conversation or speech which is an important business communication skill.

a)

active listening

b)

eye contact

c)

posture

d)

business attire

24.

A social unit of people that is structured and managed to meet a need or to pursue collective goals

a)

organization

b)

entrepreneur

c)

business partner

d)

social network

25.

a usually large collection of data organized especially for rapid search and retrieval (as by a computer)

a)

database

b)

word processer

c)

search engine

d)

file keeper

26.
What is an example of an output device?
a)
Mouse
b)
Microphone
c)
Speakers
d)
DVD
27.
What is an example of an input device?
a)
Keyboard
b)
Speakers
c)
Monitor
d)
DVD
28.
A(n) ______________________ is the most important software that runs on a computer.
a)
Operating System
b)
Windows
c)
Anti Virus
d)
iOS
29.
What operating system is this a symbol of?
a)
Mac OS X
b)
Windows
c)
Linux
d)
IBM
30.

What is the definition of 'Profit'?

a)

Earnings or income

b)

Money left over after all the costs of doing business have been deducted.

c)

When costs are higher than earnings

d)

Money spent

31.
What is the role of a manufacturer?
a)
Takes resource from nature
b)
Buys goods
c)
Sells goods
d)
Creates product from raw materials
32.
The process of informing the general public about goods and services is called what?
a)
Marketing
b)
Product
c)
Distribution
d)
Price
33.

what is the definition of human resources?

a)

Those responsible for recruiting, hiring, developing, firing and supporting employees

b)

is teaching, or developing in oneself or others, any skills and knowledge that relate to specific useful competencies. Training has specific goals of improving one's capability, capacity, productivity and performance.

c)

relating to moral principles or the branch of knowledge dealing with these

d)

A productivity measure is expressed as the ratio of output to inputs used in a production process, i.e. output per unit of input. Productivity is a crucial factor in production performance of firms and nations

34.

What is Business?

a)

A place to buy things

b)

Any profit seeking organization

c)

Where customers go to buy

35.

Expenses are......

a)

The cost required by a business to buy something

b)

Money spent

c)

Money needed to buy clothes

36.
A top-level manager, identifies jobs to be performed and assigns responsibility for them.
a)
Directing
b)
Controlling
c)
Planning
d)
Organizing
37.
A business sets a goal to increase sales by 15% so advertising budget is increased.
a)
Directing
b)
Controlling
c)
Planning
d)
Organizing
38.
A manager evaluates the production output of a department by checking it against the production goals for that time period
a)
planning
b)
directing
c)
organizing
d)
controlling
39.
A manager who helps an employee count the money in a cash drawer and prepare a bank
deposit is demonstrating 
a)
natural talent
b)
technical skills
c)
creativity
d)
aggressive behavior
40.
If managers want employees to understand the business’s goals and be productive, they must
a)
Listen carefully
b)
Communicate clearly
c)
Ask questions
d)
Obtain feedback
41.
A manager who considers how a worker reduction could impact the rest of the company is using
a)
technical skills.
b)
interpersonal skills
c)
conceptual skills.
d)
job-knowledge skills
42.
Which of the following do many businesses believe to be their most important resource
a)
Employees
b)
Office supplies
c)
Equipment
43.
Who purchases the proper material resources for workers to use in doing their jobs? 
a)
Middle managers
b)
First-line workers
c)
Supervisory managers
d)
Top-level managers
44.
The people who make the major policy and financial decisions in a corporation are the 
a)
investors
b)
board of directors
c)
managers
d)
owners
45.
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
46.
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
47.
Technology has allowed people to work fewer hours.
a)
True
b)
False
48.
__________ are precise statements of results a business expects to achieve.
a)
Goals
b)
Policies
c)
Strategies
d)
Articles of Incorporation
49.
Which of the following is not shown on an organizational chart?
a)
the structure of an organization
b)
work relationships
c)
job descriptions
d)
classification of jobs
50.
What is an example of a consumer?
a)
a farmer who grows corn
b)
a person who buys books
c)
an artist who sells paintings
51.
When people want more things than they can actually have
a)
economy
b)
free market economy
c)
scarcity
52.
A place where buyers and sellers come together
a)
goods
b)
services
c)
market
53.

RBI stands for__________

a)

regulatory bank of India

b)

Reserve bank of India

54.

who signs the one rupee note in India?

a)

Commercial bank

b)

finance secretary

c)

Industrial bank

d)

Central bank

55.

Who among the following appointed the Governor of the states in India?

a)

The Parliament

b)

The Prime Minister

c)

The President

d)

The Chief Ministers

56.

The Constitution of India, was drafted and enacted in which language ?

a)

Telugu

b)

Tamil

c)

English

d)

Hindi

57.

In the union govt the council of Ministers is collectively responsible to the:

a)

Prime Minister of India

b)

Lok sabha

c)

Lok sabha and Rajya Sabha

d)

Union cabinet

58.

Who is the Supreme Commander of the Armed Forces in India?

a)

The Prime Minister

b)

The Commander-in-chief

c)

The President of India

d)

Minister of Defence

59.
Put money into a bank account.
a)
withdraw
b)
deposit
c)
cash
d)
cheque
60.
What is it?
a)
savings account
b)
cheque
c)
loonie
d)
nickel

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