Business Quiz

Using licensed materials gives your company access to the experience knowledge of the company that develops the product.

• True

• False

Which three information types are used to determine a target market?

• Distribution

• Geographic

• Behavorial

• Competitive

• Psychographic

Rent will increase next year. This should be included in which budget?

• Operating Budget

• Sales Budget

• Financial Budget

• Capital Budget

Which two items are examples of fixed costs for a business?

• Credit card payments

• Rent

• Insurance

• Commissions

What is the main reason for a startup company to create a business plan?

• Get funding from an investor or lender

• Create an executive summary

• Determine if the business solves a problem

• Determine the management of the company

Value Engineering changes the purpose of the product.

• True

• False

Value engineering adds features and functions to a product.

• True

• False

Value engineering encourages the use of materials that save money.

• True

• False

What are the two advantages of leasing instead of buying?

• Equity earned from appreciation

• Lower maintenance costs

• Accrued long term wealth

• Lower up front cost

When brands, manufacturers, and resellers sell their products in bulk to outlets, this is what sales channel?

• B2C

• Wholesale

• Direct to consumer

• Retail