A manufacturer makes finished products from raw materials and is a type of:

A __________ buys products from a manufacturer, distributor, and/or wholesaler and sells directly to the consuming public.

There are two types of retailers, Bricks-and-Mortar retailers and __________ retailers.

McDonalds and Subway are examples of a __________ business model.

A furniture factory makes its products from wood and other raw materials. It is called a:

What are some factors to consider when selecting a type of business ownership?

What type of business has one owner, is easy to get started, where the owner has complete control, and where the owner is personally and fully responsible (liable) for any debts and any other damages that might be caused by the business.

What type of business has multiple owners, benefits from individuals combining resources, but whose liability isn’t limited to the amount of their investment?

This type of business ownership sells shares to the general public and reports its financial information to the public.

For business owners wanting to minimize their liability, they should pursue this form of ownership:

Advantages of Corporations as a form of business ownership include:

Pizza Hut and Dominos are examples of:

When one company controls the supply of a good or service, where other options for consumers aren't readily available, and where the barriers to entry for other companies are highly restrictive, this is called a/an:

What is the definition of business?

A company's purpose, reason for being, and problem it is solving is its:

A route or plan of action designed to achieve certain goals and objectives is known as which of the following?

A distinguishing characteristic of capitalism is:

The rivalry between companies selling similar products and services, competing to attract customers with limited dollars to spend is:

An economic system where companies are privately-owned, versus being owned by the government, and that assumes companies are built with a purpose of creating economic value through innovation, driven by a profit-motive, and where prices are set by the market via the ebb and flow of supply and demand is:

A tornado, earthquake, hurricane and/or flood, that can cause great harm to people, property and businesses is a:

When three possibilities exist – gain, loss, or no change – it is called:

A process that identifies and tracks risks, and creates a strategy to prepare for, and either lessen the impact of certain risks and threats, or enhance opportunities associated with risks and threats is:

Inflation and recessions are examples of:

What is used to report revenues, expenses and income for a specific time period?

When a shoe manufacturer purchases fabric, rubber, and other raw materials, then adds all the direct labor and manufacturing costs used to produce those shoes, that is:

How is Gross Profit calculated?

Money spent to pay for borrowed money is:

Gross Profit minus Operating Expenses equals:

The process of recording, maintaining, and reporting an organization’s financial transactions and records is:

What is the accounting equation?

Which terms correctly complete the list? Select TWO options. The Six Business Functions i. Human Resources ii. Strategy iii. __________ iv. __________ v. Finance/Accounting vi. Information Management

Which business function is responsible for recruiting, hiring, onboarding, training, evaluating, and terminating employees?

The business function that involves people, processes, and systems that collect, organize, store and secure relevant data, and makes it accessible and useful for making informed decisions is:

Which business function deals with the daily functioning of an organization, managing the inputs and outputs, and includes manufacturing, purchasing, and logistics?

The enterprise and pursuit of ideation, creation, communication, and delivery of profitable products and services to targeted customers for their benefit and for the benefit of society as a whole is:

The process of recording, maintaining, and reporting an organization’s financial transactions and records is:

What focuses on the management of the assets, liabilities, equity, and cash flow of an organization, analysis like ROI and ROE, and monetary planning of future growth?

What is a form of experiential learning that integrates knowledge learned in a classroom with practical application in a professional setting?

The informal exchange of information between people and professionals with common interests is:

The ability to express thoughts, concepts, and/or ideas in a clear and concise manner is:

The ability to understand and engage in speaking situations by delivering formal and informal verbal communications and presentations in a clear manner is:

The proper and respectful display of conduct, behavior, attitude, and good judgement of someone in a workplace or business environment is:

An organizational structure that shows who each person reports to is:

What function of money allows individuals to save and use it in the future?

Why is money considered a unit of measure?

What problem does the characteristic of limited supply in money help to prevent?

Which type of investment is considered low risk?

How are risk and return related in investing?

Which investment strategy involves spreading investments across various assets to reduce risk?

Which of the following is considered a long-term investment?

Which type of investment is typically most liquid?

The U.S. government agency responsible for regulating the financial markets is:

Which of the following is a way to avoid the dangers of debt?