The Ideal Quiz On Business Math 2

18 Questions | Total Attempts: 257

SettingsSettingsSettings
The Ideal Quiz On Business Math 2 - 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!


Questions and Answers
  • 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

Back to Top Back to top
×

Wait!
Here's an interesting quiz for you.

We have other quizzes matching your interest.