Font size
WorksheetsPre-Assessment
Total questions: 33
Worksheet time: 22mins
When you go to a movie, make a deposit at the bank, get a haircut, take a swimming lesson, use your telephone, or ride a bus, you are using services.
True
False
Financial statements summarize the financial conditions and operations of a business.
True
False
Equipment is an example of an asset?
True
False
When you decide to buy a jacket instead of a concert ticket, you are making a trade-off?
True
False
Who is an entrepreneur?
Someone who works for a large company
Someone who starts their own business
Someone who studies business in University
What is profit?
The money you spend - the price you sell it for
The price your sell it for + the money you spend
The price you sell it for - the money you spend
What are the examples of influence?
Your brother tells you how awful this one singer is, and you stop listening to his music.
Your teacher teaches you about animals. You are very interested, so you read a lot about animals at home now.
Five new bakeries opened in the neighborhood. Now the little coffee shop has to close down, because they lost all their customers!
All answers are correct
Why do people get bank loans?
to start their own business
To give to their brother
to never work again
to be in debt
What business is most likely to fail?
a restaurant
a school
a cleaning service provider
Being in debt means you…
...open your own business
...expand your business
...have a large income
...owe someone money
Cost is?
...the money you have
..how much you pay for something
...the profit
...your income
You can buy goods?
at a store
Online
at a market
all of the above
To supply means?
...to give people what they need.to invest in a business
...to invest in a business
...to borrow money from someone
...to expand a business
Jane has to pay for many services and buy multiple goods every month. She has a lot of…
...profit
...loans
...money
...expenses
Who is responsible for paying the company's bills at the appropriate time, and for collecting overdue payments to make sure the company doesn't lose too much money to bad debts?
The financial advisors
The accountants
The financial managers
The owner
Why should a business use trade credit?
It's expensive but is the most convenient form of long-term financing
It's the least expensive and most convenient form of short-term financing
It's the least expensive and most convenient form of long-term financing
It's expensive but is the most convenient form of short-term financing
Which of the following is not a step for investing in stocks and bonds?
Decide what stock you want
Broker accepts or declines trade
Stockholders place the order
Trade is reported to the broker
Things that you can see and touch are
Wants
Services
Goods
Needs
Water and electricity is an/a ______?
Credit
Expense
Asset
Income
Which is a want?
Water
Food
Milk
Love
A Sole Proprietorship is…
A business owned by two or more people
A business owned by only one person
A business whose goal is to provide a service rather than to make a profit, such as the American Red Cross
A company that does business and has business facilities in many countries, such as Coca Cola
A business with 2 directly involved owners
sole proprietorship
partnership
corporation
monopoly
A business with multiple owners that are not directly involved
Sole proprietorship
Partnership
Corporation
Monopoly
A business owned by one person
Service Business
Revenue
Expense
Sole Proprietorship
Assets taken out of a business for the owner's personal use
Capital
Withdrawals
Equities
Revenue
Planning, recording, analyzing, and interpreting financial information
Accounting
Ethics
Transaction
Revenue
Amount owed by a business
Liability
Asset
Capital
Account
Anything of value that is owned
Account
Asset
Withdrawal
Expense
What type of credit is a credit card?
Single Payment
Installment Credit
Revolving Credit
What type of credit payment would CFU be?
Revolving Credit
Single-Payment
Installment Credit
What does APR mean?
Average Person Ratio
Annual Percentage Rate
Always Poke Robot
Apples Peas & Rice
When should you use a credit card? Explain why?
How long would it take you to pay off a credit card with a balance of $2000.00 with an APR of 18%, with a minimum payment of 2%?
