WorksheetsBusiness Final Exam
Total questions: 20
Worksheet time: 10mins
According to your lesson, how are businesses classified?
Number of employees
Work activities the business performs
Age of the company
Profit level of the business
Which of the following is an example of a producer?
Cotton Mill
Juice Factory
Mine
Landscape Company
Which of the following is NOT an example of a processor?
Cotton Mill
Automobile Factory
Oil Refinery
Textile Mill
Which of the following is an example of a service firm?
Cotton Mill
Juice Factory
Mine
Landscape Company
Which of the following is NOT a business department we discussed?
Human Resources
Finance
Marketing
External Relations
Which of the following is NOT a financing option we discussed?
Investors
Loans
Sale of assets
Small Business Administration
Angel investors are wealthy individuals who seek high returns through private investments.
True
False
________ are words, symbols, names or devices used to specify goods and differentiate one good from others.
Copyrights
Patnts
Licenses
Trademarks
Patents are issued by state governments.
True
False
Capital is wealth in the form of money or property.
True
False
Budgeting is the _____based on a determined structure.
Process of accomplishing goals
Development of regulations
Decision to make judgements
Allocation of monetary funds
Budgeting provides a guide for efficient business decisions.
True
False
The two basic parts of a budget are _____ and _____.
Wants and Needs
Equity and Debt
Income and Expenses
Resources and Consumption
Which of the following is NOT a step involved in creating a budget?
Gather financial records
Track spending
Expand earning avenues
Balance the budget
Rent is an example of a _______ expense.
Fixed
Variable
Want
None of the above
Gross income is income after the cost of goods and taxes are deducted.
True
False
Which of the following is NOT an example of an asset?
Children
Cash
Equipmnet
Buildings
Which of the following is NOT an example of a liability?
Cash
Equipment loans
Charge Accounts
Rental Fees
The lessons recommends updating and modifying your budget how often?
Annually or quarterly
Monthly or weekly
Daily or whenever making purchases
Never
Net worth = Assets-Liabilities
True
False
