# The Ideal Quiz On Business Math 2

18 Questions | Total Attempts: 257  Settings Create your own Quiz A human resource manager is tasked with ensuring that he hires the right staff to get the company to where it wants to be. Having covered human resource management in chapter 9 of business management and law it is important to test how much you understand it. Take it up and good luck!

• 1.
Which of the following describes how to calculate net pay?
• A.

Subtract the total deductions from the net pay.

• B.

Add the total deductions to the gross pay.

• C.

Subtract the total deductions from the gross pay.

• D.

Subtract the total deductions from the take-home pay.

• 2.
If the principal and the amount of interest for one year are known, the rate of interest can be found by
• A.

Multiplying the principal by the interest for one year.

• B.

Multiplying the interest for one year by the principal

• C.

Dividing the interest for one year by the principal.

• D.

Dividing the principal by the interest for one year.

• 3.
A deposit slip lists these items: (bills) 8 fifties, 22 twenties, 9 tens, 30 fives; (coins) 24 dimes, 18 nickels, 90 pennies; (checks) \$45.67, \$99.12. The depositor received no cash back. What total deposit was made?
• A.

\$1,228.99

• B.

\$1,282.99

• C.

\$1,328.99

• D.

\$14,82.99

• 4.
Which method are most companies LEAST likely to use to record the number of hours their employees work?
• A.

Employees pass a magnetic stripe card through a reader

• B.

Employees insert a time card into a time clock

• C.

Employees write their hours worked on a time sheet

• D.

Employees keep track of their hours worked mentally.

• 5.
Which type of employee is most likely to earn a base salary plus commission?
• A.

A construction worker

• B.

A waitress

• C.

A salesperson

• D.

A lawyer

• 6.
Which of the following is an example of a job benefit?
• A.

Paid holidays

• B.

Recreational facilities

• C.

Child care

• D.

All of the above

• 7.
What is the primary reason for writing a budget?
• A.

To calculate net income

• B.

To calculate taxable income

• C.

To study past spending habits

• D.

To help allocate future income

• 8.
Which of the following is NOT a heading in a check register?
• A.

Interest rate

• B.

Check number

• C.

Balance

• D.

Transaction

• 9.
What is the name for the personalized password that each customer must enter before making ATM transactions?
• A.

EFT

• B.

PWD

• C.

PIN

• D.

PRT

• 10.
To calculate an employee’s overtime rate
• A.

Multiply the regular pay rate by 2.

• B.

Divide the regular pay rate by 1.5.

• C.

Divide the regular pay rate by 2.

• D.

Multiply the regular pay rate by 1.5

• 11.
Which of the following is NOT a step in finding the gross wages for an employee who has worked both regular time and overtime hours?
• A.

Find the employee’s average annual income over the past 3 years

• B.

Find the overtime pay rate.

• C.

Add the regular-time pay and the overtime pay.

• D.

Find the number of regular-time and overtime hours worked. Find the number of regular-time and overtime hours worked.

• 12.
Which of the following best describes how compound interest works?
• A.

Interest is calculated only on previously earned interest

• B.

Compound interest gives the borrower less to repay.

• C.

Interest is calculated from the previous interest along with the principal.

• D.

The compound interest rate increases as the term progresses

• 13.
Todd Smith paid \$885.60 in interest on a 12-month note for \$8,200. What rate of interest did Todd pay on the note?
• A.

13.8

• B.

10.8

• C.

11.2

• D.

14.0

• 14.
Which of the following reasons best describes why a seller adds a finance charge to the cash price when calculating the installment price?
• A.

To penalize the customer for not paying cash.

• B.

To cover the extra cost of doing business on the installment plan.

• C.

To offset the interest paid to the customer.

• 15.
Jenny is having a party. A bowl of jello serves 12 people. She is expecting 78 guests. How many bowls of jello do I need to buy?
• A.

5

• B.

12

• C.

6

• D.

7

• 16.
​Sam buys a Nissan Altima for \$27,735.00 at 7% interest on a 9 year loan, his monthly payment will be: \$346.86. What will the actual cost be to own the car?
• A.

36,450.23

• B.

37,460.88

• C.

29,354.67

• D.

26,621.25

• 17.
How many weeks and days are in a year?
• A.

52; 365

• B.

48; 365

• C.

52; 360

• D.

48; 360

• 18.
What is a consumer?
• A.

Person that buys goods to sell at higher price

• B.

Person that purchases goods or services for personal use

• C.

Person that sells goods to others

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