Hardest Trivia Quiz On Human Resources

22 Questions

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Human Resources Quizzes & Trivia

Are you a business study student and think that you have what it takes to tackle the final exams? The quiz below is an assessment test that is designed to ensure that you have a proper understanding of all things human resource before the finals are upon us. Take it up an keep a look out for others like it!


Questions and Answers
  • 1. 
    All profits go to the owner is an advantage of sole proprietorship.
    • A. 

      True

    • B. 

      False

  • 2. 
    Owner's Equity is the owner's claims to the business' cash only.
    • A. 

      True

    • B. 

      False

  • 3. 
    Which of the following is an example of a liability?
    • A. 

      Cable bill

    • B. 

      Mortgage

    • C. 

      Accounts recievable

    • D. 

      Car

  • 4. 
    The following are Types of businesses.
    • A. 

      Service, Merchandising, Manufacturing

    • B. 

      Service, Sole Proprietorship, Manufacturing

    • C. 

      Sole Proprietorship, Partnership, Corporation

    • D. 

      Assets, Expenses, Income

  • 5. 
    The amount of money earned after the costs of operating a business are paid is_____________.
    • A. 

      Revenue

    • B. 

      Income

    • C. 

      Profit

    • D. 

      Capital

  • 6. 
    The most common form of business organization is the ________________.
    • A. 

      Partnership

    • B. 

      Sole proprietorship

    • C. 

      Corporation

    • D. 

      Not-for-profit

  • 7. 
    The 3 forms of businesses (ownership structures) are:
    • A. 

      Revenue, profit, income

    • B. 

      Service, Manufacturing, Corporation

    • C. 

      Sole proprietorship, Partnership, Corporation

    • D. 

      Partnership, Withdrawal, Owner's equity

  • 8. 
    A service business __________
    • A. 

      Has only one owner

    • B. 

      Never earns a profit

    • C. 

      Buys raw materials, uses labor and machinery to transforms them into finished products

    • D. 

      Provides a needed service for a fee

  • 9. 
    A merchandising business _______________.
    • A. 

      Bakes bread and packages it for the grocery store

    • B. 

      Buys finished products and resells them to individuals or other businesses

    • C. 

      Does not need accountants

    • D. 

      Buys raw materials, uses labor and machinery to transforms them into finished products

  • 10. 
    Match the following
    • A. item of value than an individual or company owns (cash, property, personal possessions, investments)
    • A.
    • B. summary of your cash flow during a particular period (usually month or year)
    • B.
    • C. a nonprofit institution that is owned by its members and organized for their benefit
    • C.
    • D. small booklet used to record activity in bank account
    • D.
    • E. portion of the total cost of an item that must be paid at the time of purchase
    • E.
  • 11. 
    Match the following
    • A. arrangement to receive cash/goods/services now and pay for them in the future
    • A.
    • B. total dollar amount you pay to use credit
    • B.
    • C. price that is paid for the use of another’s money
    • C.
    • D. measure of a person’s ability and willingness to make credit payments on time
    • D.
    • E. cash card that allows you to withdraw money or pay for purchases from checking/savings account
    • E.
  • 12. 
    Match the following
    • A. debt you owe to a creditor
    • A.
    • B. a special account in which a person sets aside a portion of income for retirement
    • B.
    • C. a for-profit institution that offers a full range of financial services (checking, savings, loans)
    • C.
    • D. the signature of the payee, the party to whom the check is has been written
    • D.
    • E. report (or the process) that accounts for differences between the bank statement and your checkbook balance
    • E.
  • 13. 
    Match the following
    • A. expenses that are more/less the same each month
    • A.
    • B. a printed record of the balance in a bank account
    • B.
    • C. form of security to help guarantee that the creditor will be repaid
    • C.
    • D. ability to easily convert assets into cash without a loss in value
    • D.
    • E. expenses that change from month to month
    • E.
  • 14. 
    The accounting equation is ____________________
    • A. 

      Revenue - expenses = Net income

    • B. 

      Assets + Liabilities = Owner's Equity

    • C. 

      Assets - Liabilities = Owner's Equity

    • D. 

      Assets = Liabilities + Owner's Equity

  • 15. 
    Brant is paid $1,088.53 in gross pay.  How much would he pay in FEDERAL Income taxes if his tax rate is 25.00%? (answer should be rounded to 2 decimal places)
  • 16. 
    Mitchell is paid $1,202.03 in gross pay.  How much would he pay in MEDICARE taxes if his tax rate is 1.56%? (answer should be rounded to 2 decimal places)
  • 17. 
    Liz works 47 hours and is paid $12.75 each hour.  Her regular wages are $510; while her overtime wages are $133.88.  What is her gross pay? (answer should be rounded to 2 decimal places)
  • 18. 
    Jordan works 46 hours and is paid $9.00 each hour.  What is his gross pay? (answer should be rounded to 2 decimal places)
  • 19. 
    Using the information below, what is Ryan's total deductions? Federal income tax rate 39.00%          896.45 Soc Sec tax rate 6.20%          143.41 Medicare tax rate 1.45%            37.05 State income tax rate 6.50%          166.08 union dues   25 health insurance employee    60 (answer should be rounded to 2 decimal places)
  • 20. 
    Diana's pay and deductions are below.  What is her NET pay? (answer should be rounded to 2 decimal places) reg hourly wages $900.00 overtime wages $150.00 total deductions $456.90    
  • 21. 
    Brad worked a total of 50 hours.  Identify the regular hours worked.
  • 22. 
    Match the following
    • A. money that is going to be left in the financial institution for months or years
    • A.
    • B. expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property, or by using it to develop a commercial venture
    • B.
    • C. difference between the amount that you own and the debt you owe
    • C.
    • D. agency that protects deposits in banks
    • D.
    • E. request that a bank or other financial institution not cash a particular check
    • E.