1.
The upper limit to the amount that can be charged for a specific good or service is a:
A. 
B. 
C. 
D. 
2.
People in an organization that make decisions and interpret policies are called:
A. 
B. 
C. 
D. 
3.
An amount of money charged for the use of borrowed money or credit:
A. 
B. 
C. 
D. 
4.
What term means all of the following: planning, designing, selling, promoting, and servicing of products?
A. 
B. 
C. 
D. 
5.
What type of business is owned by the stockholders?
A. 
B. 
C. 
D. 
6.
Which economic system allows the means for production and distribution to be privately owned?
7.
What do you call a statement that is attached to a product giving information about its contents?
A. 
B. 
C. 
D. 
8.
Pilferage is another name for?
9.
An actual count of the merchandise in stock is called?
10.
A salesperson who meets the customers face to face and persuades them to buy, is involved in what type of selling?
A. 
B. 
C. 
D. 
11.
The person to whom a check is written is called the?
A. 
B. 
C. 
D. 
12.
When two or more people operate a business and share the profits and losses, they own what type of business?
A. 
B. 
C. 
D. 
13.
Name the diagram that shows the positions, responsibilities, and reporting lines of personnel in a business?
A. 
B. 
C. 
D. 
14.
What is the term that means, "Let the buyer beware."
A. 
B. 
C. 
D. 
15.
Name the person who buys the merchandise that a retail store carries in stock.
A. 
B. 
C. 
D. 
16.
When an individual or business has debts that are greater than their assets and cannot be paid, they are in a state of?
A. 
B. 
C. 
D. 
17.
A report that tells the financial status of a business?
A. 
B. 
C. 
Quarterly Earnings Report
D. 
Individual Expense Report
18.
A system of recording that shows a retailer the goods he has on hand, the items he has sold and their value?
A. 
B. 
C. 
D. 
19.
The arrangement of the Advertising copy and art on the printed page?
A. 
B. 
C. 
D. 
20.
A sale that the retailer uses to remove leftover items from the selling floor?
A. 
B. 
C. 
D. 
21.
A system by which assortments of similar merchandise are offered at the same prices, for example, $100, $150, and $200 suits?
A. 
B. 
C. 
D. 
22.
Products that carry the label of the retailer who sells them rather than the manufacturer's brand name is called what?
A. 
B. 
C. 
D. 
23.
You have limited liability when you invest in this type of business?
A. 
B. 
C. 
D. 
24.
A person who assumes the responsibility and the risk for starting and operating a business?
A. 
B. 
C. 
D. 
25.
The continuous striving of businesses to gain larger shares of their respective markets?
A. 
B. 
C. 
D.