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Business Test #1

Total questions: 40

Worksheet time: 19mins

Name
Class
Date
1.
Which job below is NOT associated with Accounting?
a)
Paying Bills
b)
Collecting Money
c)
Payroll Checks
d)
Pricing Items
2.
What role can someone in Management have?
a)
Meet Goals and Obligations
b)
Works with People in an Organization
c)
Use resources to accomplish Goals
d)
All Answers are roles of Management
3.
Which answer below is one of the 4 P's of Marketing
a)
Placement
b)
Process
c)
Plan
d)
Pay
4.
Which answer below is NOT apart of the Information Technology field?
a)
Work with Software Applications
b)
Work on Hardware for Technology Use
c)
Behind the Scenes Paperwork
d)
Keep Email accounts working
5.
People in Operations field will...
a)
Complete behind the scenes paperwork
b)
Manage People
c)
Help develop skills
d)
Pay Bills
6.
The Human Resources Department
a)
Manage People
b)
Help Develop Skills
c)
Hire and Fire
d)
All of these are correct
7.
A Business owned by 1 Person
a)
Sole Proprietorship
b)
Partnership
c)
Franchise
d)
Corporation
8.
A Business owned by two or more people
a)
Sole Proprietorship
b)
Partnership
c)
Franchise
d)
Non-Profit Organization
9.
A contract between a parent company and a franchisee to use the name and see the goods or services of the parent company.
a)
Franchise
b)
Corporation
c)
Non-Profit Organization
d)
Partnership
10.
A business whose goal is to provide a service rather than to make a profit.
a)
Non-Profit Organization
b)
Multinational Corporation
c)
Corporation
d)
Franchise
11.
A business considered separate from the owners of the business by law.  
a)
Corporation
b)
Multinational Corporation
c)
Partnership
d)
Sole Proprietorship
12.
The process of recording and reporting the financial data for a business.
a)
Accounting
b)
Management
c)
Marketing
d)
Information Technology
13.
The process of leading and directing all or part of an organization.
a)
Management
b)
Marketing
c)
Information Technology
d)
Operations
14.
The process of creating, promoting, and presenting a product to the consumers.
a)
Marketing
b)
Information Technology
c)
Operations
d)
Human Resources
15.
The process of developing, installing, and implementing computer information systems and applications.
a)
Information Technology
b)
Operations
c)
Human Resources
d)
Accounting
16.
The activities involved in the day-to-day running of a business for the purpose of producing value for the steakholders.
a)
Operations
b)
Human Resources
c)
Accounting
d)
Marketing
17.
The activities that deal with the hiring, firing, training and other personnel (employee) issues.
a)
Human Resources
b)
Accounting
c)
Management
d)
Marketing
18.
Which of the following is does NOT provide a good?
a)
Lawyer's Office
b)
CD Store
c)
Rug Cleaning
d)
Lawn Mowing
19.
Which of the Following provides a service?
a)
Rug Cleaning
b)
CD Store
c)
Clothing Store
d)
Sporting Goods Store
20.
Which of the following provides both goods and services?
a)
Beauty Shop
b)
Rug Cleaning
c)
Lawn Mowing
d)
Clothing Store
21.

This type of business takes processed goods and creates finished products

a)

Processor

b)

Intermediary

c)

Manufacturer

d)

Wholesaler

22.

Wholesaler businesses...

a)

Usually sell goods directly to consumers

b)

Gather raw goods from natural resources

c)

Make finished products from processed goods

d)

Buy large quantities of goods and sell them in smaller amounts to retailers

23.

Handling money, paying bills, and creating statements and reports regarding money involves the ___________ function of business.

a)

Finance and accounting

b)

Management

c)

Marketing

d)

Production and procurement

24.

Businesses that buy goods, store them, and resell them are...

a)

Intermediaries

b)

Manufacturers

c)

Processors

d)

Wholesalers

25.

ABC Company extracts oil from the ground and sells it to other companies to be processed. It is an example of a

a)

Manufacturer

b)

Intermediary

c)

Producer

d)

Retailer

26.

This function of business involves creating, expanding, manufacturing, or improving goods and services.

a)

Production

b)

Procurement

27.

This business is an example of a retailer

a)

Carrier who assembles parts to create AC units

b)

REI who sells outdoor goods to consumers

c)

Merry Maids who provide house cleaning services

d)

Dunder Mifflin who buy large quantities of paper and sell it to other businesses in smaller quantities

28.

The ______ function of business involves planning, pricing, promoting, and selling in order to get consumers to buy a product.

a)

Management

b)

Production

c)

Accounting

d)

Marketing

29.

Northfolk Southern is a rail company that ships goods from one business to another. This is an example of...

a)

A Producer

b)

A Manufacturer

c)

A Wholesaler

d)

an Intermediary

30.

Processing businesses...

a)

Gather raw materials from natural resources

b)

Purchase goods from a wholesaler and resells them to consumers

c)

Move finished goods from one business to another

d)

Change raw material into more finished products

31.

BP Gas Stations are an example of a service business

a)

True

b)

False

32.

When a company evaluates how to best use its resources to achieve company goals it is using the _________ function of business.

a)

Management

b)

Marketing

c)

Production and Procurement

d)

Finance and Accounting

33.

John Doe's Lawn Care Company mows lawns for people. This is an example of a service business.

a)

True

b)

False

34.

A wholesaler, that buys and sells already produced goods, is involved in the _________ function of business.

a)

Production

b)

Procurement

35.

Valero is a company that takes raw crude oil and turns it into gasoline that cars can use. This is an example of _______

a)

Producing

b)

Wholesaling

c)

Manufacturing

d)

Processing

36.
What is an advantage of a franchise over a sole proprietorship? 
a)
Franchises can sell stock to start up the business.
b)
Franchises do not have to work in the business.
c)
Parent company provides training and support to franchisee.
d)
Parent company will pay all of the franchisee's start up cost. 
37.
Goodwill Industries helps poor and homeless people with the money raised by selling donated products in their stores. Goodwill is classified as what kind of business? 
a)
Non-profit
b)
For-profit
38.
What is the difference between needs and wants? 
a)
Needs are goods and wants are services.
b)
Needs are necessary for survival and wants are nice to have.
c)
Needs are nice to have, wants are necessary for survival.
d)
Needs are services and wants are goods.
39.
Services are...........
a)
clothing
b)
hairdresser
c)
personal care products
d)
computers
40.
Some businesses can sell both products and services.
a)
false
b)
true

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