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WorksheetsBST Basic Terminologies
Total questions: 25
Worksheet time: 14mins
The money that you receive for mowing the lawn, babysitting or getting an allowance is called__________.
Income
Credit
Debt
Interest
The essentials you can't live without are called:
Wants
Needs
Income
Expenses
It's important to spend money on things you need before spending money on things you want:
True
False
Financial management is mainly concerned with
All aspects of acquiring and utilizing financial resources for firms activities
Arrangement of funds
Efficient Management of every business
Profit maximisation
Job classifications such as CEO, President, Vice-President, Executive Director are associated with which of the following?
Top Level managers
Middle Level managers
Low Level managers
Supervisors
"Increase in the use of mobile phones and i-pods instead of papers and radio" refers to an example of key component of general environment of business. Identify it.
Technological
Political
Legal
Economical
Capital budgeting is related to
long term assets
short term assets
long term assets and short term assets
fixed assets
Investment can be defined as ..........
Person’s dedication to purchasing a house or flat
Use of capital on assets to receive returns
Usage of money on a production process of products and services
Net additions made to the nation’s capital stocks
Dividend decision is concerned with
only distribution of dividend to shareholders
how much to be retained in business
how much profit earned is distributed to shareholders and how much to be retained in the business
none of the above
Financial management aims at
ensuring availability of enough funds
reducing the cost of funds procured
effective deployment of funds
all of the above
A decision to acquire a new and modern plant to upgrade an old one is a
financing decision
working capital decision
investment decision
none of the above
______ refers to classifying the product into different groups with same characteristics.
grading
branding
packaging
labeling
Name the element of product mix which acts as a silent salesmen as it induces customers to buy the product.
packaging
branding
labeling
none of the above
Which function/element of management involves identifying and arranging work and resources to achieve company goals?
Which function/element of management involves analyzing information, setting goals, making decisions?
When managers look back to reflect on what has been done in the past and make sure things are being done as planned, they are engaging in which of the following element?
Organizing
Directing
Controlling
Planning
Developing a weekly employee work schedule is related to
Planning
Organizing
Leading
Controlling
Why do we need managers in an organization?
To do the things right
Managers plan, control, lead and monitor the work
They are required in all organizations
They include people, skills, machinery and raw materials
Motivation is
Expecting goals
Creating a positive work environment
Not listening to anyone's input
Not sharing profits
A good manager is
Someone who works with and through other people
Someone who leads an works over other people
Which of the following is an example of a non-profit organization?
Beauty Salon
Salvation Army
ITT Technical Institute
Amazon
What kind of businesses are motivated to earn a profit?
Public
Private
Government
Nonprofit
Which of the following describes small businesses?
Are usually national or global
Can be divided into many different departments
Usually have less than 100 employees
Usually have more than 100 employees
The employment process is carried out by which department?
Marketing
Distribution
Management
Human Resources
Which is a type of Intellectual Property protection?
Copyright
All of the listed options
Personal Selling
Promotional Strategies
