WorksheetsFinal Exam
Total questions: 36
Worksheet time: 40mins
CEO stands for….?
What are different market types?
Supermarket
Department store
Online marketplace
What are the different business letter styles?
Block style
Modified block style
What is the return on investment equation?
What is piece work payment style?
What is an entrepreneur?
What type of market is based on cultural beliefs and customs?
The process of starting a new business is known as:
Diversification
Entrepreneurship
Liquidation
Amortization
The primary reason for a business to pursue entrepreneurship is to:
Avoid taxes
Create new markets or products
Follow government regulations
Reduce the number of employees
Which of the following best defines entrepreneurship?
The process of purchasing stocks and bonds
The act of managing and organizing any enterprise, especially a business, usually with considerable initiative and risk
The practice of being employed by a large corporation
The activity of working for the government
What is marketing?
Developing, promoting, pricing, selling & distributing products.
Programming, pricing, selling & distributing products.
Developing, promoting, texting, selling & distributing products.
Debugging, programming, developing, & distributing products.
Contract:
A legally binding agreement between two parties.
A fee paid to an employee for completing a task.
A monetary amount given to employees in return for their work.
A signed agreement stating that an entity will not disclose information agreed upon by all parties in an arrangement.
What does GDP stand for?
The difference between income earned and expenses incurred by a business is called
Sales
Money
Profit
Time
Something a person must have to survive.
iPhone X
Need
Service
Want
what is code of ethics
Patent law is the branch of intellectual property law that deals with new inventions.
a claim or dispute brought to a court of law for adjudication.
professional conduct outlines the ethical principles that govern decisions and behavior at a company or organization.
what is copyright
a collective term encompassing aspects of the law that provide protection to the environment.
an agreement between an employer and an employer regarding the term of employment.
a legal term used to describe the rights that creators have over their literary and artistic works.
what is a trademark
A trademark is a word, phrase, or logo that identifies the source of goods or services
a form of intellectual property law, protects original works of authorship including literary, dramatic, musical, and artistic works
a claim or dispute brought to a court of law for adjudication.
Why is business ethics important in the corporate world?
It hinders profitability and growth
Business ethics is not important in the corporate world
It leads to conflicts and inefficiencies
Business ethics is important in the corporate world to build trust, enhance reputation, reduce legal risks, attract and retain employees, and foster a positive work culture.
Give an example of an ethical dilemma that a business might face.
Discriminating against customers based on race
Falsifying financial records for tax evasion
Prioritizing profit over environmental sustainability
Ignoring employee safety regulations
A market in which a few sellers offer similar products
Pure Competition
Monopolistic Competition
Oligopoly
Monopoly
A business owned by one person
Sole Proprietorship
Partnership
Corporation
A market in which many sellers offer differentiated products
Pure Competition
Monopolistic Competition
Oligopoly
Monopoly
An entrepreneur invests $500 of his own money in a new business venture and takes out a loan for $1500 to finance the rest. After a month, the business earns $7200 revenue and spends $5000 on expenses. Which percentage shows the owner's return on equity (net income/owner's equity)?
23%
140%
146%
440%
What is the difference between debt financing and equity financing?
Debt financing involves borrowing money while equity financing involves selling ownership stakes in the company.
Debt financing doesn't need to be repaid while equity financing does need to be repaid.
Debt financing is always provided by a bank while equity financing is provided by other sources.
Debt financing costs the business a substantial amount to secure while equity financing typically costs the business nothing.
If Dan's Bakery charges $20 a cake, spends $13 for ingredients and labor to create each cake, and has total fixed costs of $700 for the building, equipment, and advertising, what is their break-even point?
35 cakes
70 cakes
100 cakes
200 cakes
Goods are……?
What are types of venture funding?
Angel Investment, Venture Capital, Crowdfunding
Fixed compensation paid regularly for services is known as:
Burn rate is calculated by……?
An investor who provides funding to a business for a stake in the business in return.
Sole proprietor……?
The total cost of acquiring a new customer
An intangible service or skill that is performed
Which are types of business models?
