Podcast
Questions and Answers
What does a non-profit organization mean?
What does a non-profit organization mean?
- To protect from financial losses
- To exchange money or property for stock
- To pay extra taxes
- To pay less in taxes (correct)
What term describes a person who owns a business and has full responsibility for it?
What term describes a person who owns a business and has full responsibility for it?
- Proprietor (correct)
- Manager
- Shareholder
- Investor
Which of the following best describes an executive?
Which of the following best describes an executive?
- A person with a higher management position (correct)
- A person with significant legal authority
- A junior employee under supervision
- An individual with technical expertise
Which term refers to the practice of paying on a daily basis?
Which term refers to the practice of paying on a daily basis?
What does the term 'personnel' refer to?
What does the term 'personnel' refer to?
What is a key feature of a public company?
What is a key feature of a public company?
In which business structure is the owner responsible for all debts?
In which business structure is the owner responsible for all debts?
Which business structure allows owners to have limited liability for debts?
Which business structure allows owners to have limited liability for debts?
What type of business structure does not sell its stock to the general public?
What type of business structure does not sell its stock to the general public?
Which structure is primarily owned and run by its members?
Which structure is primarily owned and run by its members?
Flashcards
Proprietor
Proprietor
An individual who owns and manages their own business, personally responsible for all aspects.
Executive
Executive
A person who holds a high-level management position in an organization.
Partnership
Partnership
A way to protect a company from financial loss involving two or more partners.
Saving
Saving
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Accountant
Accountant
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Sole Proprietorship
Sole Proprietorship
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Incorporated
Incorporated
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Public Company
Public Company
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Private Company
Private Company
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Study Notes
True/False Questions
- Question 16: 16. Non-profit organizations means to exchange money or property for stock. False
- Question 17: The person who owns a business is the only one responsible for company debts is called sole proprietor. True
- Question 18: An executive is a person with a higher management position in any company. True
- Question 19: Newspapers every morning and every evening are delivered. True
- Question 20: An accountant is a person who is responsible for financial records. True
- Question 21: "change" means the difference between the terms to pay extra amount the cash is provided. False
- Question 22: Standard shift, permanent attachment, and full-time are equal in meaning. False
- Question 23: A standard shift, permanent attachment, and full-time are equal in meaning. False
- Question 24: Part-time is equal in meaning to infinite time. False
- Question 25: Per diem means offering payment on a day-to-day basis. True
- Question 26: A policy to set money aside from one's paycheck to be spent when employment ends is called keeping or saving money. True
- Question 27: A type of business that protects from financial loss is called a partnership. True
- Question 28: A partnership means a non-profit organization. False
- Question 29: "Personnel" means special concern. False
- Question 30: In English generally, the word "save" means to gain, and the word "invest" means absolute gaining. False
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Description
Test your knowledge of key business concepts with this True/False quiz. Questions cover topics like non-profit organizations, proprietorship, and the role of accountants. Ideal for students and professionals looking to refresh their understanding of basic business terminology.
