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WorksheetsCh 11 and Ch 12 Test Review
Total questions: 15
Worksheet time: 11mins
The basic Financial Equation is:
Revenue - profit = loss
Expenses + revenue = profit or loss
Profit - loss = revenue and expenses
Revenue - expenses = profit or loss
The Internet is the largest and best-known computer network in the world.
True
False
(a) taxes are the taxes that the federal, state, and local governments require employers to withhold from their employees' pay.
What does B2B stand for?
Business to Consumer
Business to Business
Consumer to Business
Consumer to Consumer
AI stands for Alexa Intellect.
True
False
The _____________ budget describes the financial plan for ongoing operations of the business for a specific period:
Start-up
Operating
Cash
None of these
(a) takes place when someone steals or illegally copies software packages or information.
Some common types of input devices would be touch screens, microphones, and game controllers.
True
False
Which of the following is NOT one of the 4 elements of a Computer Systems?
Input Device
Computer Virus
Memory and Storage
Output Device
Revenue is all the income that a business receives over a period of time.
True
False
(a) refers to conducting business transactions using the internet or other technology.
By using the Basic Financial Equation, decide which of these would lead to a profit:
Revenue of $85,000, Expenses of $72,000
Revenue of $72,000, Expenses of $85,000
Revenue of $10,000, Expenses of $15,000
Revenue of $25,000, Expenses of $29,000
The Balance Sheet is a report of a company's revenue, expenses, and net income or lose for a specific period of time.
True
False
This is the process by which funds are deposited electronically and available automatically for your use:
Income Statement
Budget
Direct Deposit
Expenses
(a) are what the company owns; anything of value owned by a business.
