Introduction to Business, Unit Test REVIEW

Introduction to Business, Unit Test REVIEW

24 Qs

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 Introduction to Business, Unit Test REVIEW

Introduction to Business, Unit Test REVIEW

Assessment

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Kay Lee

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24 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Any organization or activity that offers goods and services in an effort to earn a profit is called a:

Business
Corporation
Market
Nonprofit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between the revenue and the expenses of a business when revenue is greater than expenses is referred to as:

Breakeven
Loss
Profit
Sales

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between the revenue and the expenses of a business when revenue is less than expenses is referred to as:

Breakeven
Loss
Profit
Sales

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Every month, Carla’s Candy Shop has to pay bills for utilities, wages, rent, insurance, supplies, and raw materials. Those amounts are examples of:

Earnings
Expenses
Net profit
Revenue

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In order to be considered a business, an entity must:

Earn a profit
Pursue earning a profit
Both a and b
Neither a or b

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In order to be considered a business, an entity must:

Have a storefront
Have a website
Both a and b
Neither a or b

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This type of organization provides goods and services without seeking a profit:

Business
Corporation
Firm
Nonprofit

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