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WorksheetsIBT Final Exam Practice
Total questions: 50
Worksheet time: 3hrs 30mins
What is the Word shortcut to jump to the START of the document?
(a)
What is the Word shortcut to jump to the END of the document?
(a)
What tab do you use to change font size in Word?
(a)
What is the copy text shortcut for Microsoft Word?
(a)
What is the Word shortcut to SAVE the document?
(a)
What is the Word shortcut to CENTER the text?
(a)
What is the Word shortcut to SELECT all of the text?
(a)
What is the Word shortcut to CLOSE the document?
(a)
What is the Word shortcut to UNDO your previous action?
(a)
What is the Word shortcut to align the text to the RIGHT?
(a)
A bank employee moves funds from an inactive account to their own account and covers it up so no one will catch it. This is an example of ____?
Embezzlement
Fraud
Larceny
Vandalism
Which of the following is NOT a tab in Microsoft Word?
HOME
PAGE LAYOUT
WEB
DESIGN
A target market is ___?
The people you buy inventory from
A market for a certain area
The group of people that you want to buy your product/service
What you are going to sell
Which of the following is the accounting equation?
Assets=revenue + expenses
Owner’s equity= Assets – liabilities
Assets = Liabilities + Owners Equity
Both B and C
The amount or responsibility an insurance company will pay for a loss
Deductible
Premium
Claim
Coverage
The amount you pay for insurance
Claim
Deductible
Premium
This type of insurance can protect against damage to the home and damage against items in the home
Property Insurance
Homeowner’s Insurance
Worker’s compensation
Term life insurance
The out-of pocket amount that you pay before the insurance company pays the claim
Deductible
Risk
Coverage
Premium
The probability of a loss or something bad happening
Probability
Coverage
Risk
Request for a payment when there is a loss
Claim
Coverage
Deductible
Protects from fire, theft, smoke, etc. and includes protection for things such as buildings, equipment, inventory, etc.
Term LIfe Insurance
Worker’s compensation
Whole Life Insurance
Property Insurance
What type of an account is cash?
ASSET
LIABILITIES
OWNER'S EQUITY
The accounting equation must always be
balanced
uneven
zero
equal to the square root of 5
Something of value OWNED by the company is a
Liability
Asset
Owner's Equity
Something of value OWED by a company is called a(n)
Asset
Liability
Owner's Equity
The process of keeping the financial records of a business is known as
accounting.
controlling.
financing.
bookkeeping.
Which of the following categories of information are found on a balance sheet:
Income, expenditures, profit
Assets, liabilities, owner’s equity
Assets, liabilities, margin
Revenues, expenses, profit
What accounting record would summarize a business’s profit or loss for a previous year?
Bank statement
Inventory record
Income statement
Balance sheet
This is the minimum required by law, only repairs the vehicle you hit, not your own
Liability
Collision
Comprehensive
Deductible
What does renters insurance cover?
The damage to the property
Earthquakes
Personal items the tenant owns
If a burglar breaks in and he/she is injured as a result
True or False: Insurance is based on the concept of shared risk, or risk pooling.
True
False
This symbol is for changing highlighter colors
True
False
This is the italics symbol
True
False
This symbol is for changing font size
True
False
The goal of a budget is to SAVE more than you SPEND.
True
False
You can be charged a service fee for withdrawing your own money from an ATM machine
True
False
It's important to spend money on things you need before spending money on things you want:
True
False
True or False: Insurance is based on the concept of shared risk, or risk pooling.
True
False
Entrepreneurs have to find their own health insurance and plan for retirement.
True
False
