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WorksheetsBusiness Basic Quiz
Total questions: 20
Worksheet time: 10mins
Which department is responsible for scheduling employees' vacation?
Marketing
Finance
Human Resources
Production
The membership of a partnership can range from how many persons?
Two to twenty
Two to fifty
Minimum of seven
Must not exceed two
What is a disadvantage of sole trading?
Personal assets may be seized by creditors in satisfaction of debt
Personal contact with customers
Personal management of the firm
Less consultation for decision-making
Which department is responsible for advertising the firm's goods?
Marketing
Personnel
Production
Purchasing
Which one of the following is not a profit-making business?
The farmer sells his produce in the wholesale
John provided a taxi service
The neighborhood community group sells sweets and cakes in order to offset the expenses of the group
A company charges $3000 for a shoe
Which department is responsible for creating goods/services?
Marketing
Finance
Human Resources
Production
This type of partner is involved in the day-to-day operations of the business?
Limited liability partner
Dormant partner
Active partner
Unlimited liability partner
Persons who own and operate their own business are called:
Executives
Operators
Economizers
Sole Trader
Which department is responsible for distributing the goods?
Marketing
Finance
Production
Human Resources
Which type of organization aims to generate financial gain for its owners or shareholders?
Profit organization
Charitable organization
Government organization
Non-profit organization
Which of the following is NOT a function of a business?
To ensure that people are employed
To earn profits for its owners
To pay debts to suppliers
To organize the factors of production efficiently
Which of the following is NOT an advantage of partnership?
One person is not burdened with the work and debts associated with the business
More knowledge and experience are combined for development
The business can grow because more capital is available
Profits do not have to be shared
What are the major functional areas in a business?
Production, Marketing, Distribution, Human Resource
Advertising, Marketing, Human Resource, Finance
Personnel, Finance, Production, Marketing
Maintenance, Finance, Production, Marketing
Which of the following is NOT a responsibility of the Finance Department?
Pricing of the product
Keeping accurate and up-to-date accounting records
Keeping a check on departments to try to make sure they do not exceed their budgets
Make future financial plans called budgets
Which is the most common type of business unit?
Partnership
Franchise
Conglomerates
Sole Trader
Which department is responsible for providing a job description?
Marketing
Finance
Human Resources
Production
Silent partners are those persons who ______________
Are involved in the day-to-day operations of the business
Are responsible for the debt of the business
Only invest in the business
Are liable for losing their investment and personal assets
Which of the following is NOT a disadvantage of a Sole-Trader business?
The owner may have to work long hours
The owner may have difficulty in obtaining financial support if expansion becomes needed
Decision making takes less time
The business may not continue if the owner dies
Which department is responsible for designing the goods?
Marketing
Finance
Human Resources
Production
Which of the following is a reason why people might establish a business?
To make a profit
To create jobs
To be your own boss
All of the above
