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Worksheets

Make It Your Business Pre/Post Test

Total questions: 40

Worksheet time: 26mins

Name
Class
Date
1.

someone who provides a product or service for someone else for money

a)

corporation

b)

entrepreneur

c)

partner

d)

operation

2.

the process of running a business of one's own

a)

limited liability

b)

partnership

c)

corporation

d)

entrepreneurship

3.

people who buy goods or service

a)

consumers

b)

animals

c)

robots

d)

remote control cars

4.

thinking about your strength and weaknesses

a)

pre test

b)

quality control

c)

self assessment

d)

understanding

5.

things used to create products and services

a)

shops

b)

resources

c)

manufacturers

d)

service

6.

money made from providing a good or service

a)

profit

b)

loss

c)

expense

d)

income

7.

cost of supplies that are used in a business

a)

loss

b)

profit

c)

income

d)

expenses

8.

income greater than expenses

a)

income

b)

profit

c)

loss

d)

expenses

9.

expenses greater than income

a)

loss

b)

income

c)

profit

d)

expenses

10.

amount that can be earned on money invested

a)

capital

b)

gross

c)

interest

d)

net

11.

the exchange of goods and services for money

a)

expense

b)

transaction

c)

loss

d)

goods

12.

a federal, state, or local government tax charged on goods

a)

revenue

b)

cost

c)

sales tax

d)

deposit

13.

about making choices and satisfying the wants and needs of consumers

a)

target

b)

economics

c)

market

d)

finance

14.

includes the customers and the location that the business wants to serve

a)

store

b)

commercial product

c)

market

d)

micro economics

15.

cost that must be paid no matter how much a good or service is produced

a)

fixed cost

b)

variable cost

c)

opportunity cost

d)

changing cost

16.

cost that go up and down depending on the quantity of the good or service

a)

fixed cost

b)

variable cost

c)

changing cost

d)

opportunity cost

17.

cost associated with beginning a business

a)

industrial cost

b)

operating cost

c)

fees

d)

start up cost

18.

fees paid to support television, magazine, or other advertising

a)

franchise fee

b)

royalty fee

c)

advertising fee

d)

operations fee

19.

the floor plan of your business

a)

layout

b)

construction

c)

building

d)

outline

20.

a written statement listing the duties and responsibilities of a job

a)

resume

b)

application

c)

job listing

d)

job description

21.

includes individuals that are interested in a particular product or service and are able to pay for it

a)

overall market

b)

target market

c)

supermarket

d)

neighborhood market

22.

companies offering similar or identical products or services to the same group of customers

a)

stakeholders

b)

consumers

c)

competitors

d)

shareholders

23.

items of value owned by a business

a)

assets

b)

liabilities

c)

equity

d)

overstock

24.

items that a business owes to others

a)

personal belongs

b)

equity

c)

assets

d)

liabilities

25.

a book in which you record the dates, amounts and names of people or business to whom you have written checks

a)

novel

b)

library book

c)

check register

d)

dictionary

26.

the total amount of money a business receives from its activities

a)

investment

b)

loss

c)

profit

d)

revenue

27.

the financial gain made in a transaction

a)

profit

b)

loss

c)

expense

d)

revenue

28.

the amount of money required to purchase something

a)

price

b)

value

c)

cost

d)

expense

29.

the process of determining the value of a business or asset

a)

valuation

b)

depreciation

c)

appreciation

d)

calculation

30.

the amount of money left after all expenses are paid

a)

gross income

b)

investment

c)

net income

d)

revenue

31.

the practice of spreading investments among different financial assets

a)

concentration

b)

consolidation

c)

speculation

d)

diversification

32.

the act of promoting and selling products or services, including market research and advertising

a)

manufacturing

b)

distribution

c)

accounting

d)

marketing

33.

the financial gain made in a transaction

a)

loss

b)

profit

c)

revenue

d)

expense

34.

the amount of money that a company owes to its creditors

a)

equity

b)

capital

c)

liabilities

d)

assets

35.

the financial plan that outlines expected income and expenses

a)

profit

b)

investment

c)

revenue

d)

budget

36.

the process of promoting and selling products or services

a)

distribution

b)

manufacturing

c)

marketing

d)

accounting

37.

the total amount of money a business receives from sales

a)

revenue

b)

profit

c)

expense

d)

cost

38.

the process of determining the value of a business or asset

a)

amortization

b)

depreciation

c)

valuation

d)

appreciation

39.

a financial statement that shows a company's financial position at a specific point in time

a)

equity statement

b)

cash flow statement

c)

balance sheet

d)

income statement

40.

the cost of borrowing money, usually expressed as a percentage of the amount borrowed

a)

interest rate

b)

dividend

c)

capital gain

d)

premium