Quiz about is Glossary of business terms

Question 1

which term describes economic resources that are owned by a business and are expected to benefit the future operations

Accepted Answer

Assets

Question 2

What is it called when payment is made based on a percentage of sales?

Accepted Answer

Comission

Question 3

What is the group of customers called that a business has decided to aim its promotions at?

Accepted Answer

Target Market

Question 4

Commission is a(n)

Accepted Answer

Expense (Money going out of the company)

Question 5

Management is NOT a component of the healthcare triad?

Accepted Answer

True

Question 6

Which of the following is NOT an element in the marketing mix?

Accepted Answer

Profit

Question 7

To calculate sales you must know the cost of goods sold.

Accepted Answer

False

Question 8

The amount a business makes after expenses is called

Accepted Answer

Profit

Question 9

If our profits are negative, it means

Accepted Answer

Expenses are more than Sales

Question 10

To calculate Profit you must know how much you had in Sales.

Accepted Answer

True

Questions 10