HR Trivia Quiz On Entrepreneur And Business
However small or big a company is there is a need for someone or people to be involved in it, and this is why human resources are one of the subjects that an entrepreneur or a person willing to work in a business should be aware of. Do you think you can tackle this HR trivia on entrepreneurship and business? Try it out!
- 1.What is an Entrepreneur?
- 2.Name 4 of the 12 characteristics (traits) of successful entrepreneurs.
- 3.Owner's Equity is the owner's claims to the business' cash only.
- A.
True
- B.
False
- 4.Which of the following is an example of a liability?
- A.
Cable bill
- B.
Mortgage
- C.
Accounts recievable
- D.
Car
- 5.The following are Types of businesses.
- A.
Service, Merchandising, Manufacturing
- B.
Service, Sole Proprietorship, Manufacturing
- C.
Sole Proprietorship, Partnership, Corporation
- D.
Assets, Expenses, Income
- 6.The amount of money earned after the costs of operating a business are paid is_____________.
- A.
Revenue
- B.
Income
- C.
Profit
- D.
Capital
- 7.The most common form of business organization is the ________________.
- A.
Partnership
- B.
Sole proprietorship
- C.
Corporation
- D.
Not-for-profit
- 8.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
- 9.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
- 10.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
- 11.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)
- 12.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)
- 13.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)
- 14.Jordan works 46 hours and is paid $9.00 each hour. What is his gross pay? (answer should be rounded to 2 decimal places)
- 15.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)
- 16.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
- 17.Brad worked a total of 50 hours. Identify the regular hours worked.
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