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1-1 What is Business?

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

A business function that involves people, processes, and systems that collect, organize, store and secure relevant data and information, and makes it accessible and useful for making informed decisions.

a)

Information Management

b)

Financial Accounting

c)

Human Resource Planning

d)

Marketing Analysis

2.

Planning, organizing, staffing, controlling and leading people, processes, and assets in order to achieve a goal or task in the best way possible.

a)

Management

b)

Delegation

c)

Supervision

d)

Coordination

3.

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.

a)

Marketing

b)

Accounting

c)

Manufacturing

d)

Logistics

4.

A company's purpose; its reason for being; the problem it is solving.

a)

Mission

b)

Revenue

c)

Product

d)

Strategy

5.

The daily functioning of an organization, managing the inputs and outputs, and includes manufacturing, purchasing, and logistics.

a)

Operations

b)

Marketing

c)

Finance

d)

Human Resources

6.

A measure of a company’s financial performance, calculated as net income divided by total shareholder’s equity.

a)

Return on Equity (ROE)

b)

Earnings Per Share (EPS)

c)

Debt to Equity Ratio

d)

Current Ratio

7.

The measure of gain or loss generated on an investment, compared to the amount of money invested; is usually expressed as a percentage.

a)

Return on Investment (ROI)

b)

Gross Domestic Product (GDP)

c)

Net Present Value (NPV)

d)

Liquidity Ratio

8.

A route or plan of action designed to achieve certain goals and objectives.

a)

Strategy

b)

Obstacle

c)

Routine

d)

Distraction

9.

A specific procedure or action used to support strategy, in order to achieve goals and objectives.

a)

Tactic

b)

Vision

c)

Mission

d)

Policy

10.

An aspirational view of the future, that if the company is successful in accomplishing its mission, the company and/or world might look a certain way.

a)

Vision

b)

Strategy

c)

Goal

d)

Policy

11.

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

a)

Accounting

b)

Auditing

c)

Budgeting

d)

Marketing

12.

A for-profit or non-profit organization involved in commercial, industrial, or professional commerce.

a)

Business

b)

Government

c)

Charity

d)

School

13.

Focuses on the management of the assets, liabilities, equity, and cash flow of an organization, financial analysis like ROI and ROE, and financial planning of future growth.

a)

Finance

b)

Marketing

c)

Human Resources

d)

Operations

14.

Refers to the people assets who work for an organization, and the business function responsible for recruiting, hiring, onboarding, training, evaluating, and terminating employees.

a)

Human Resources

b)

Financial Accounting

c)

Supply Chain Management

d)

Marketing

15.

What is the meaning of industrial?

a)

Customized services provided for a fee

b)

The pursuit of a profit margin.

c)

Items that are manufactured.

d)


Collecting, organizing, and storing data.