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Semester Exam Review (Business, Marketing, and Finance)

Total questions: 34

Worksheet time: 11mins

Name
Class
Date
1.

A businessman is considering starting a new venture. Which type of business ownership should he choose if he wants to be the sole owner?

a)

Corporation

b)

Franchise

c)

Sole Proprietorship

d)

Partnership

2.

John and Mary are planning to start a business together where they will share equal profits and liabilities. What type of business ownership are they considering?

a)

General Partnership

b)

Limited Partnership

c)

Corporation

d)

Sole Proprietorship

3.

Imagine you and your friend decide to start a business together. You invest a significant amount of money and time into the business, owning 80% of it, while your friend only invests a small amount, owning 20% of it. You both agree that the profits and liabilities will be shared according to your respective ownership percentages. What type of business ownership is this scenario describing?

a)

General Partnership

b)

Limited Partnership

c)

Corporation

d)

Sole Proprietorship

4.

Imagine you are an investor looking to invest in a business. You come across a type of business that is not owned by an individual or partners, but by the general public who invest in the company, commonly known as shareholders. What type of business is this?

a)

Sole Proprietorship

b)

Partnership

c)

Franchise

d)

Corporation

5.

John is planning to start a business where he will purchase the naming rights to operate under a well-known company's name. This model is commonly seen in the fast food and retail industries, like Chic-Fil-A and McDonalds. What type of business ownership is John considering?

a)

Franchise

b)

Corporation

c)

Partnership

d)

Sole Proprietorship

6.

You are studying business models and come across McDonald's. What type of business model does McDonald's exemplify?

a)

Corporation

b)

Franchise

7.

You are a business analyst studying different types of business structures. During your research, you come across Wal-Mart. What type of business structure does Wal-Mart represent?

a)

Franchise

b)

Corporation

8.

A local family-owned coffee shop is most likely operating under which business structure?

a)

Corporation

b)

Sole Proprietorship

9.

Maddox and Shane are co-founders of a tech startup. They both hold 50 percent of the company's shares. What type of business structure is this?

a)

General

b)

Limited

10.

Kayden and Logan are business partners in a tech startup. Kayden holds a 60 percent stake in the business, while Logan holds a 40 percent stake. What type of business partnership does this scenario depict?

a)

General

b)

Limited

11.

John, an entrepreneur, decides to open a Starbucks outlet. He is required to bear the costs for the store setup, branding, and also adhere to the guidelines set by Starbucks. Additionally, he is obligated to share a portion of his earnings with Starbucks. What kind of business owner is John?

a)

Corporation

b)

Franchise

12.

Imagine you are a business investor looking to expand your portfolio. You decide to invest in a company on the stock market. This company is most likely a

a)

Franchise

b)

Corporation

13.

In a business context, something that a company owns and has monetary value is referred to as

a)

Liability

b)

Equity

c)

Asset

14.

In a business scenario, if a company has to pay off its loans or settle its bills, these are referred to as....

a)

Equity

b)

Assets

c)

Liabilities

15.

A business owner is calculating his company's financial health. He subtracts the company's liabilities from its assets. What does this calculation represent?

a)

Equity

b)

Net Profit

c)

Gross Profit

16.

A company's office building would be considered a...

a)

Liability

b)

Asset

17.

A company's outstanding credit card bills would be considered as....

a)

Liability

b)

Asset

18.

A company borrows money from the bank. This would be considered a....

a)

Liability

b)

Asset

19.

In the financial statement of a company, cash is categorized as...

a)

Asset

b)

Liability

20.

The company laptop you are operating on for your daily tasks is a _______ of the corporation.

a)

Liability

b)

Asset

21.

In the world of business, is it true or false that all investments increase in value over time?

a)

True

b)

False

22.

Level of governmental control: High or Low

Communism

a)

High

b)

Low

23.

Level of governmental control: High or Low

Socialism

a)

Medium-High

b)

Low

24.

Level of governmental control: High or Low

Capitalism

a)

High

b)

Low

25.

Company Profits: High or Low

Communism

a)

High

b)

Low

26.

Taxes: High or Low

Communism

a)

High

b)

Low

27.

Taxes: High or Low

Capitalism

a)

High Taxation

b)

Low Taxation

28.

A CEO is considering implementing policies based on Karl Marx's theories. These policies would advocate for....

a)

Capitalism

b)

Communism/Socialism

29.

In the context of a corporate environment, the business strategies advocated by the CEO, who is a follower of Adam Smith's theories, would most likely be....

a)

Capitalism

b)

Communism/Socialism

30.

A company is facing a government regulation that places limits on the number of goods it can export/import. This regulation is known as a/an

a)

Embargo

b)

Tariff

c)

Quota

31.

A government decides to stop the shipment of certain goods to other countries. This action is known as

a)

Tariff

b)

Embargo

c)

Quota

32.

A company is considering expanding its business overseas. They are concerned about the government regulation that imposes taxes on goods they would export/import. What is this regulation called?

a)

Tariff

b)

Embargo

c)

Quota

33.

A company is manufacturing a product with a label "Made in the USA". What type of trade does this scenario represent?

a)

World Trade

b)

Domestic Trade

34.

A company is importing goods labeled as "Made in China". What type of trade is this an example of?

a)

World Trade

b)

Domestic Trade