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WorksheetsBizWorld Pre/Post Assessment
Total questions: 15
Worksheet time: 8mins
How can a company know that it made a profit?
It didn't sell out all of it's products.
It earned the most revenue during sales.
It earned more money in revenue than it spent in expenses.
It didn’t sell too many shares of stock to the venture capitalists.
When deciding on a price for a product, what factor(s) should a company consider?
The complexity of the production.
Cost of production and materials.
The perceived value of the product.
The actual value of the product.
If you take out a loan from the bank, you must:
Repay the balance of the loan and interest.
Repay the balance of the loan.
Pay interest on the bank loan only.
Give the bank shares of stock.
Why is it important to keep careful records of all your finances?
To know the amount of money I can borrow from the bank.
To compare my company’s money with other companies.
To report to the local authorities and value my company.
To have clarity of how much you have and can spend.
What does a venture capitalist receive in exchange for investing in a company?
A promise to repay the loan plus interest.
Shares of stock in the company and a vote in decision-making.
Just shares of stock in the company.
A portion of company products and services.
If a company sells shares of stock, the company is:
Taking out a loan from the venture capitalist.
Receiving money with no other requirements.
Losing a part of the ownership of the company in exchange for money.
Making a promise to pay back the venture capitalist within a year.
Money a company earns from selling a product or service is called:
Revenue
Profit
Capital
Cash on Hand
What is the profit equation?
Expenses + Profit = Revenue
Rent – Interest = Profit (or Loss)
Revenue – Expenses = Profit (or Loss)
Expenses x Revenue = Profit
The role of manufacturing is:
To make the product easily and inexpensively.
To sell the product.
To manage smooth operations of the company.
To promote the product.
The purpose of marketing is to:
Position the products in the market.
Make sure the company has the best commercial.
Introduce customers to the logo and slogan of the company.
Demonstrate why the company and its products are special and desirable.
What is a business primarily aimed at?
Providing services only
Making a profit
Supporting charities
Creating jobs
What does profit mean in a business context?
The total amount of money a business earns
The difference between the selling price and the cost price
The amount of money left after paying taxes
The difference between a company's revenue and its expenses
In business terms, what is profit?
A good investment
A holiday bonus
A monetary reward
A risky venture
What is a loss in business?
When a business spends more than it earns
The cost of goods sold
A decrease in stock value
When a business earns more than it spends
