Module 4 Test - Business Essentials

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

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

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

• marketing

• logistics

• purchasing

• quality control

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

• distribution

• finances

• marketing

• operations

Isaac buys wood from a lumber mill to make some park benches. The wood is part of his:

• inputs

• outcomes

• outputs

• services

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

Dalton diagrams out where each machine in the production process needs to go to maximize the efficiency of the space. What part of the operations function is this?

• routing

• logistics

• purchasing

• quality control

Which represents the inflow of funds into a business?

• A. cash

• B. debt

• C. expenses

• D. liabilities

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

Cash is an example of:

• A. assets

• B. expenses

• C. equity

• D. liabilities