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!
True
False
True
False
Cable bill
Mortgage
Accounts recievable
Car
Service, Merchandising, Manufacturing
Service, Sole Proprietorship, Manufacturing
Sole Proprietorship, Partnership, Corporation
Assets, Expenses, Income
Revenue
Income
Profit
Capital
Partnership
Sole proprietorship
Corporation
Not-for-profit
Revenue, profit, income
Service, Manufacturing, Corporation
Sole proprietorship, Partnership, Corporation
Partnership, Withdrawal, Owner's equity
Has only one owner
Never earns a profit
Buys raw materials, uses labor and machinery to transforms them into finished products
Provides a needed service for a fee
Bakes bread and packages it for the grocery store
Buys finished products and resells them to individuals or other businesses
Does not need accountants
Buys raw materials, uses labor and machinery to transforms them into finished products
Revenue - expenses = Net income
Assets + Liabilities = Owner's Equity
Assets - Liabilities = Owner's Equity
Assets = Liabilities + Owner's Equity
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Here's an interesting quiz for you.