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WorksheetsBusiness Test Review
Total questions: 15
Worksheet time: 10mins
The two basic parts of a budget are __________ and __________
Wants; Needs
Income; Expenses
Resources; Consumption
Rent is an example of a (a) expense.
Net worth = assets - liabilities
False
True
A blueprints for the execution and organization of revenues and expenditures; a specific plan for spending and saving money.
Budgets
net income
gross income
fixed expenses
(a) representation concerning the patterns of expansion and contraction in the economy; consisting of the growth, peak, recession and trough phases
period in which business activity has reached a maximum
Growth
Trough
Peak
Which of the following lists each part of the business cycle?
Peak, Recession, Trough, Expansion
Peak, Downhill, Pit, Expansion
Which of the following is NOT one of the four basic organizational levels?
Supervisors
Middle managers
Lower managers
__________ is the principle in which an employee should have only one supervisor to whom he or she is responsible.
Chain of command
Span of control
Work specialization
Supervision
make up the base level of the pyramid; produce an organization’s goods and services; generally do not manage or oversee the work of other employees
Supervisors
Middle Managers
Top Management
Operative Employees
business owned and operated by one individual
Sole Proprietorship
Partnership
General Partnership
Corporation
The right or license to sell a company’s product or service at a designated location.
Franchise
Franchisor
Franchisee
words, symbols, names or devices used to specify goods and to differentiate them from others
Trademarks
Patents
Copyrights
(a) four interrelated marketing strategies used to meet consumer needs; consist of product, price, promotion and place
(a) marketing theory stating the stages experienced by products and services from their introduction to their decline; consists of four stages: introduction, growth, maturity, decline
