Module 4 Test - Business Essentials

The accounting document that shows a business’s revenue and expenses is a/an:

• A. balance sheet

• B. income statement

• C. cash flow statement

• D. statement of owner’s equity

Kathy wants to know whether her boutique made or lost money this month. The financial document she should view is her:

• A. balance sheet

• B. income statement

• C. cash flow statement

• D. statement of owner’s equity

Jordan owns a successful landscaping business. Landscaping is an example of a/an:

• A. input

• B. inventory

• C. output

• D. service

Molly plans out each part of the operations process to ensure the right

• marketing

• logistics

• purchasing

• quality control

The finance activity regarding how to source income is called:

• accounting

• acquiring funds

• administering assets

• making capital investment decisions

Connor is working on a billboard to showcase his new service. What part of the marketing mix is he working on?

• place

• price

• product

• promotion

Isabelle owns a home cleaning business. She invoices her customer and records the transaction as soon as she finishes each home cleaning. Which type of accounting method is Isabelle using?

• accrual
• cash

• cost

• managerial

A change in products will have the most direct impact on a business’s:

• distribution

• finances

• marketing

• operations

Jerome makes laptop computers. The laptops are part of his:

• input

• output

• parts

• resources

Beth wants to hire a disc jockey for her son’s graduation party. Deanna offers her a promotional package that includes three hours of music, special effect lighting, and a video. Deanna is marketing:

• goods

• ideas

• places

• services