End of Year State Test Review (Business)

Question 1

Target earned $98,000 in revenue last year, and spent $103,000 in expenses. What did they earn?

Accepted Answer

$5,000 Net Loss

Question 2

Jen regularly meets with her employees to discuss business. This is which style of leadership?

Accepted Answer

Democratic

Question 3

Joe is a boxer--despite the possibility of brain injury, he continues to fight. Deal w/ risk???

Accepted Answer

Assume the risks

Question 4

Kim writes "For Deposit Only" on the back of her check. Which kind of endorsement is she using?

Accepted Answer

Restrictive Endorsement

Question 5

Ty's business earned a profit of $30,000 last month. Which financial statement would show this?

Accepted Answer

Income Statement

Question 6

Iran bans American products in it's country. This is an example of which trade barrier?

Accepted Answer

Embargo

Question 7

Tim got feedback from his employees. This is an example of which style of management?

Accepted Answer

Strategic

Question 8

Roy can borrow $300 at 3% interest. Which loan option would cost him the most money?

Accepted Answer

Option 4: Loan for 1 year

Question 9

Which is an example of a direct channel of distribution?

Accepted Answer

You deliver your products to your customers yourself

Question 10

Jules thinks his new business will need $20K to get up and running. Which financial planning?

Accepted Answer

Start-up

Question 11

Ford make thousands of products to serve it's customers. Which type of production is performed?

Accepted Answer

Mass Production

Question 12

Jason can find the value of assets for his business on which type of financial statement?

Accepted Answer

Balance Sheet

Question 13

In a hypothetical economy 40 people bought gum at $1 each. Which economic measurement?

Accepted Answer

GDP per Capita

Question 14

Best Buy allows Jess to make monthly payments to pay off her new TV over 3 years. Credit type?

Accepted Answer

Installment Credit

Question 15

The FDA released a report saying that e-cigarettes are bad. What is the source of information?

Accepted Answer

Government Agencies

Question 16

These Lego shares earn a guaranteed 5% return, but no voting rights. Which investment are they?

Accepted Answer

Preferred Stock

Question 17

Wei purchased 15 shares of REI stock. How many votes will she have at the shareholders meeting?

Accepted Answer

15

Questions 17