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BML Test 8 Set 1
Test Description: Business Management and Law Chapter 8 Test Set 1
Instructions: Answer all questions to get your test result.
1) Which of these is a list of the type and number of items a business has on hand for sale?
A
account records
B
tax records
C
asset records
D
inventory records
2) Which of these is a list of all items of value owned by a business?
A
asset records
B
account records
C
tax records
D
inventory records
3) Which of these refers to the electronic transfer of net pay into an employee's account?
A
magic
B
direct deposit
C
ATM services
D
lightning bolts of cash
4) Financial records are generally kept and updated using
A
smoke signals
B
pencil and paper
C
computers
D
stone and chisel
5) Bills that a company plans to pay within a year are called
A
fixed costs
B
variable costs
C
current liabilities
D
current assets
6) The best source of information when preparing a budget is
A
the company's past records
B
a crystal ball
C
wikipedia
D
business mouse
7) This ratio shows the rate of return on the money invested in a company.
A
current ratio
B
debt to equity ratio
C
return on equity ratio
D
net income ratio
8) Which two financial records are important for staying out of legal trouble?
A
tax records and payroll records
B
records of accounts and depreciation records
C
asset records and inventory records
D
cash records and tax records
9) This ratio tells whether a company can pay its bills as they come due.
A
debt to equity ratio
B
net income ratio
C
current ratio
D
return on equity ratio
10) Records that contain information on employees, their pay and compensation and benefits
A
world records
B
account records
C
payroll records
D
Arista records
*select an answer for all questions
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