ENTRE: Quarter 3 Test

What is the primary purpose of financial statements in a business context?

• To create marketing strategies

• To inform stakeholders about business status

• To manage employee schedules

• To design product packaging

Which financial statement shows the profitability of a business over a specific time period?

• Balance sheet

• Bank statement

• Income statement (P&L)

• Tax return

What type of expenses remain constant each month?

• Variable expenses

• Startup costs

• Marketing expenses

• Fixed expenses

Which of the following is considered a variable expense?

• Mortgage payments

• Insurance premiums

• Advertising costs

• Base salary

Which financial statement shows the assets, liabilities, and equity of a business at a specific point in time?

• Cash-flow statement

• Balance sheet

• Income statement

• Expense report

Which of the following is NOT one of the Four P's of Marketing?

• Price

• Place

• Profit

• Product

When considering the product strategies, which answer choice is NOT typically included?

• Brand Names

• Employee training

• Packaging

• Warranties

Place strategies involve decisions about:

• Product design only

• Advertising campaigns

• How and where products will be sold

• Customer service policies

What is a target market?

• The total population of a country

• All potential customers worldwide

• A group most likely to buy a product or service

• Only customers who have previously purchased

Which of the following is not a demographic factor?

• A. Age

• B. Political affiliation

• C. Income

• D. Location