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WorksheetsBusiness Characteristics Review
Total questions: 20
Worksheet time: 10mins
Which type of business produces processed goods by changing raw goods into a more finished form?
Intermediaries
Service firms
Processors
Producers
Which of the following is an example of a non-profit organization?
Beauty salon
Salvation Army
ITT Technical Institute
Amazon
The employment process is carried out by which department?
Marketing
Distribution
Management
Human resources
Intrinsic motivation occurs internally and includes enjoyment and accomplishment.
True
False
Group training gives employees hands-on practice with supervision.
True
False
A system used to record, classify, summarize and report the financial position of a business is known as which of the following?
Management
Distribution
Accounting
Human resources
Which of the following is the goal of the finance department?
Setting prices high enough to make profit but low enough to attract customers
Motivating employees and focusing on cooperation within the business
Producing goods in the most efficient and cost-effective manner
Determining the use of company resources and funds
The focus of the maturity stage (stage 3) in the product life cycle is to build customer satisfaction and recognize competitors entering the market.
True
False
Psychological needs are those for necessities such as safety, security and health.
True
False
Which of the following is NOT one of the modes of transportation distribution typically uses?
Cable
Railroads
Trucks
Waterways
Which of the following is NOT a component of the marketing mix?
Product
Price
Promotion
Perception
Which of the following are the activities used to persuade consumers they need
the product?
Product
Price
Promotion
Perception
Which of the following is NOT a stage of the product life cycle?
Introduction
Growth
Evaluation
Maturity
Which of the following correctly lists the needs of consumers which should be
met?
Physical, social, psychological
Physical, psychological, economic
External, internal, social
External, internal, psychological
Which of the following is NOT a role of production and distribution in a company?
Facilities
Processing
Marketing
People
According to the segment, why is the Finance and Accounting department
important to a business?
Controls hiring decisions
Businesses cannot exist without cash flow
Focuses on the worth of the company
Controls the Human Resources department
Items of value owned by a business are known as which of the following?
Assets
Liabilities
Owner’s equity
Bonds
Which of the following are the debts or obligations of a business?
Assets
Liabilities
Owner’s equity
Bonds
Which of the following is NOT a responsibility of the Finance department?
Managing the use of company funds
Obtaining needed funds
Creating a financial plan
Establishing external relations
Which of the following is NOT a source of funding?
Borrowing funds
Selling stocks
Investors
Decreasing owner contributions
