WorksheetsFinance Qualification Test
Total questions: 20
Worksheet time: 9mins
Which of the following best describes business administration?
The process of producing goods and services
The organization and management of business activities to achieve goals
The study of consumer buying habits
The selling of products to other businesses
Which function of management involves setting objectives and deciding how to achieve them?
Organizing
Planning
Leading
Controlling
What is a sole proprietorship?
A business owned by two or more partners
A business owned by shareholders
A business owned by one person
A government-owned enterprise
Which of the following is an example of human resources management?
Managing company finances
Hiring and training employees
Purchasing office supplies
Developing marketing campaigns
The primary goal of most businesses is to:
Provide employment
Increase government revenue
Maximize profits
Reduce competition
Which one defines entrepreneurship?
Working as an employee within an established company
The process of creating, organizing, and running a business while taking on financial risk
Government regulation of commercial activities
Selling shares of stock on a public exchange
List ways technology has improved business operations in recent years. Select all that apply.
Automation of tasks increases efficiency and reduces errors
Cloud-based tools enable real-time remote collaboration
Higher rent costs reduce profitability
Data analytics supports faster, better-informed decisions
Slower internet speeds increase downtime
What is the difference between leadership and management in a business setting?
Leadership sets vision and motivates people, while management plans and controls resources to meet goals
Leadership handles budgeting, while management focuses on inspiration and vision
Leadership enforces rules, while management ignores processes
There is no meaningful difference; both terms are interchangeable
You are the manager of a small café and sales have decreased over the past three months. Select two actions you could take to improve business performance.
Introduce limited-time promotions and a loyalty program
Reduce product quality to cut costs
Analyze sales data to adjust menu offerings and pricing
Ignore customer feedback and keep the current strategy
Improve social media presence and local advertising
A company wants to expand into a new market but lacks the funds to do so. Which of the following are suitable sources of financing paired with a valid advantage? Select two.
Bank loan — provides immediate capital while the owners retain control
Equity financing (selling shares) — no required repayment on the funds raised
Personal credit card — carries no interest and minimal risk
Government grant — requires no repayment if eligibility criteria are met
Barter with suppliers — easily scales to fund large expansions
FINANCING DECISIONS RELATE TO THE
DIVIDEND DECISIONS
ASSETS PROCUREMENT
RESREVE BUILDING
ACQUISITION OF CAPITAL
Decisions about financing refer to the
Accounts receivable
Acquisition of funds
Administration of assets
Accounting department
Which type of financing is needed to pay for the current operating activities of a business (1-2 months-a year)?
start-up financing
short-term financing
long-term financing
What is the meaning of Business Finance?
Use of money in business
Solving financial problems
Financial situation of business
Financial plan of business
This is something you put up to get a loan from a creditor
Capacity
Collateral
Character
Capital
Carlos is planning to start a restaurant, he has already assessed the idea and has decided to move ahead with the....
What will the next step be?
Writing down a Business Plan
Hiring People
Buy the shop
Start selling food
Why do you need a business plan?
To raise capital
Gets everyone involved to focus on the same goals
Gives an objective look at what you are doing and why
It is required by law
What is the purpose of a business plan?
To document your financial activity during one year
Legal document to be filed with the SEC
States the purpose and vision of your company
States the amount of capital you need to run the company
Jasmine is planning to start a restaurant, she has already assessed the idea and has decided to move ahead with the....
What will the next step be?
Writing down a Business Plan
Hiring People
Buy the shop
Start selling food
