WorksheetsIntroduction to Business Exam
Total questions: 46
Worksheet time: 51mins
To start a business you will need to create a business idea.
TRUE
FALSE
Small business owners are those who make business for others.
TRUE
FALSE
To raise capital the business can obtain a credit line through a bank.
TRUE
FALSE
The business idea has to do with the good and service the firm will offer.
TRUE
FALSE
One basic activity is buy goods and services.
TRUE
FALSE
One way to raise capital is by selling shares to other people.
TRUE
FALSE
Marketing refers to all the activities of products and service promotion.
TRUE
FALSE
Resale is the act of buying and then sale a product.
TRUE
FALSE
Employing human resources include recruiting.
TRUE
FALSE
Businesses keep the records to know how they are doing financially.
TRUE
FALSE
Records help in making proper business decisions.
TRUE
FALSE
A business can operate without the working force.
TRUE
FALSE
Goods and services must be produced through economic resources.
TRUE
FALSE
Natural resources are the raw material provided by the nature.
TRUE
FALSE
Ethical behavior of the human resource must follow a code of rules.
TRUE
FALSE
Capital resource is the money raise to start the business.
TRUE
FALSE
Business must be honest and fair in its business operation.
TRUE
FALSE
The first step in starting a business is to register the company.
TRUE
FALSE
Some of the social responsability of a business is to hire people.
TRUE
FALSE
Records help manager in making proper business decisions.
TRUE
FALSE
Cash reccords: list the cash receipts.
Inventory merchandise: quantity of products in hand.
Accounts receivable: list name and quantity of credit sales.
Assets accounts: list the amount of equipment building owned by the business.
Payroll: list employees earning, tax, social security, owe to the government.
Petty cash: list cash purchase for less than 20.00.
Marketers: provide the kind of products and services consumers desire to buy.
Basic business activity: market, produce, raise capital.
Accounts payable; list credit purchase of the company.
Social responsability: moral obligation to contribute tot he well being of the community.
Materials from the environment used by humans.
Natural resources
Human resources
Capital resources
Insurance
Oversees the collection of contributions, and health care services.
Social security
Insurance
Capital resources
Natural resources
Financial product designed to provide protection against potential risks.
Insurance
Social security
Natural resources
Capital resources
Money raised to start a business.
Capital resources
Natural resources
Human resources
Insurance
Compensation paid to an employee for their work.
Salary
Wage
Bonus
Commission
Working force.
Human resources
Natural resources
Capital resources
Insurance
Conduct of rules.
Ethics
Law
Regulations
Policies
Period of time away from work.
Vacation
Leave
Break
Holiday
Skills, knowledge, and expertise related to specific tasks.
Technical
Professional
Vocational
Academic
The human resources, the land resource, and the capital.
Economic resources
Natural resources
Human resources
Capital resources
One basic activity:
market
produce
raise capital
In this phase the manager create, develop the idea and research the market:
business idea
business plan
market analysis
feasibility study
"Set up a lemonade stand after school or during events" is a good example of :
business idea
business plan
entrepreneurship
marketing
Air pollution is an example of :
social responsability
environmental issue
ethical concern
business risk
A Panamanian company that actively practices social responsibility.
Banco General
Copa Airlines
Panama Canal Authority
Industrias Lácteas de Panamá
What social responsability is
