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Business TEKS Review

Total questions: 50

Worksheet time: 25mins

Name
Class
Date
1.

According to the segment, how are businesses classified?

a)

Number of employees

b)

Work activities the business performs

c)

Age of the company

d)

Profit level of the business

2.

Which of the following is NOT an example of a processor?

a)

Cotton mill

b)

Automobile factory

c)

Oil refinery

d)

Textile mill

3.

Which of the following is an example of a service firm?

a)

Cotton mill

b)

Juice factory

c)

Mine

d)

Landscape company

4.

Which of the following is NOT a business department mentioned in the segment?

a)

Human resources

b)

Finance

c)

Marketing

d)

External relations

5.

Which type of business produces processed goods by changing raw goods into a more finished form?

a)

Intermediaries

b)

Service firms

c)

Processors

d)

Producers

6.

Which of the following is an example of a non-profit organization?

a)

Beauty salon

b)

Salvation Army

c)

ITT Technical Institute

d)

Amazon

7.

The employment process is carried out by which department?

a)

Marketing

b)

Distribution

c)

Management

d)

Human resources

8.

Intrinsic motivation occurs internally and includes enjoyment and accomplishment.

a)

True

b)

False

9.

Group training gives employees hands-on practice with supervision.

a)

True

b)

False

10.

Which of the following is NOT one of the modes of transportation distribution typically uses?

a)

Cable

b)

Railroads

c)

Trucks

d)

Waterways

11.

A system used to record, classify, summarize and report the financial position of a business is known as which of the following?

a)

Management

b)

Distribution

c)

Accounting

d)

Human resources

12.

Which of the following is the goal of the finance department?

a)

Setting prices high enough to make profit but low enough to attract customers

b)

Motivating employees and focusing on cooperation within the business

c)

Producing goods in the most efficient and cost-effective manner

d)

Determining the use of company resources and funds

13.

Which of the following is NOT an example of an organization?

a)

An international corporation

b)

A private school

c)

A group of friends

d)

A community non-profit affiliation

14.

Which of the following is an example of an operative employee?

a)

Regional manager

b)

Head coach

c)

Chairman of the board

d)

Assembly line worker

15.

Which of the following is an example of a middle manager?

a)

Teller at a bank

b)

Director of marketing

c)

Chief executive officer

d)

Salesperson in a retail store

16.

Which of the following is the correct order of organizational levels?

a)

Operative employees, supervisors, middle managers, top management

b)

Operative employees, middle managers, supervisors, top management

c)

Middle managers, operative employees, supervisors, top management

d)

Middle managers, supervisors, operative employees, top management

17.

A(n) ____________ is a systematic grouping of individuals which has been brought together to accomplish a goal.

a)

Informal structure

b)

Organization

c)

Concord

d)

Affiliation

18.

Which of the following is NOT one of the four basic organizational levels?

a)

Supervisors

b)

Middle managers

c)

Top management

d)

Lower managers

19.

__________ is the grouping of individuals into departments. A. B. C. D.

a)

Departmentalization

b)

Centralization

c)

Decentralization

d)

Central Mentalization

20.

On average, how many people get hired in 2020?

a)

80 Million

b)

60 Million

c)

70 Million

d)

40 Million

21.

What was the lowest paid position that earned $21,000 per year?

a)

Food Prep & Servers

b)

Retail Staff

c)

File Clerks

d)

Drive Thru window operators

22.

How do you calculate an annual salary if you have the hourly wage?

a)

Hourly Rate x 8 x 365

b)

Hourly Rate x 8 x 4.3 x 12

c)

Hourly Rate x 40 x 52

d)

Hourly Rate x 40 x 50

23.

If an employee makes $14.75 per hour, what would be their annual salary if they were full time.

a)

$30,680

b)

$43,070

c)

$42,000

d)

$30,490.40

24.

If an employee made $21,000 per year, what would their hourly rate?

a)

$10.00

b)

$10.10

c)

$10.13

d)

$10.39

25.

What % of the labor force works for a small business?

a)

45%

b)

26%

c)

19%

d)

55%

26.

If an employer makes a mistake and hires a DUD. What does it cost them on average?

a)

Nothing

b)

$4000

c)

$6850

d)

$2000

27.

How many steps does an employer go through in the hiring process?

a)

5

b)

3

c)

7

d)

9

28.

The willingness and ability of consumers to buy goods and services.

a)

Supply

b)

Credit

c)

Greed

d)

Demand

29.

Money received from an outside source to help pay for education.

a)

Gifts

b)

Financial Aid

c)

Savings Account

d)

Investments

30.

Money given to pay for educational expenses that does not have to be repaid.

a)

Unsubsidized Loan

b)

Subsidized Loan

c)

Grant

d)

Scholarship

31.

A set of moral values that people consider acceptable; the study of what is right versus wrong.

a)

Up Bringing

b)

Manners

c)

Ethics

d)

Laws

32.

An employment agency that provides part-time and full-time jobs on a temporary basis.

a)

Employment Agency

b)

Job Scout

c)

Network

d)

Temp Agency

33.

Spending time observing a worker in a type of job that interests you.

a)

On the Job Training

b)

Follow the Leader

c)

Job Shadowing

d)

Job Interview

34.

A form that asks basic questions about the applicant’s background, such as work history, education, skills, and references.

a)

Job Application

b)

Resume

c)

Cover Letter

d)

W-4 Form

35.

A summary of your work experience, education, skills, interests, and other qualifications (your skill set) that qualify you for a job opening.

a)

Job Application

b)

Resume

c)

Cover Letter

d)

W-2 Form

36.

A letter that accompanies a resume, introducing the applicant to a prospective employer.

a)

Resume

b)

Job Application

c)

Cover Letter

d)

I-9 Form

37.

A face-to-face meeting with a potential employer to discuss a job opening.

a)

Job Interview

b)

Training Meeting

c)

Does Not Really Happen

d)

Follow Up

38.

Contact with a prospective employer after the interview but before hiring.

a)

Job Interview

b)

Follow Up

c)

Resume

d)

No one does this.

39.

If an employee makes $26.75 per hour, what would be their annual salary if they were full time.

a)

$55,640

b)

$55,650

c)

$55,000

d)

$49,873.25

40.

A person who takes the risks of being self-employed and owning a business.

a)

Entrepreneur

b)

Risk Taker

c)

Great Manager

d)

Business Partner

41.

If an employee makes $16.75 per hour, what would be their weekly salary if they were full time.

a)

$670.00

b)

$34,840

c)

$600.00

d)

$34,000

42.

How many employee does a small business usually have?

a)

1000

b)

less than 100

c)

more than 100

d)

about 500

43.

If an employee made $28,000 per year, what would their weekly rate?

a)

$550.00

b)

$539.46

c)

$13.46

d)

$13.50

44.

The Neveau Corporation spent $15,000 on research last year. It spent 30 percent on consumer research, 25 percent on pure research, and the remainder on applied research. The company’s annual sales for the last year were $400,000.

Using the scenario above; what percentage of sales did the company spend on research?

a)

37.5%

b)

5%

c)

3.75%

d)

7.5%

45.

Businesses that buy products from businesses and sell them to other businesses are called

a)

Retailers

b)

Wholesalers

c)

Marketer retailers

d)

Industrial Companies

46.

_____________ is the selling of goods in a foreign market at a price lower than cost or below what it charges in the home market.

a)

Embargo

b)

Sanctions

c)

Non-tariff barriers

d)

Dumping

47.

The extent to which people enter and leave employment in a business during a year is known as

a)

Layoffs

b)

Terminiation

c)

Tranfers

d)

Turnover

48.

Which performance plan pays employees a fixed rate for each unit produced?

a)

Piece Rate Plan

b)

Commission Plan

c)

Bonus Plan

d)

Wage Plan

49.

The international organization that creates and enforces the rules governing trade among countries?

a)

NAFTA

b)

WTO

c)

CDC

d)

Congress

50.

Which of the following is NOT provided protection from employment discrimination by federal law?

a)

Age

b)

Income

c)

Gender

d)

Citizenship Status