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The Business Of Graphic Communications
Test Description: 1. Students can explain the planning process for starting a business and the business basics. 2. Students can explain trade customs and industry challenges.
Instructions: Answer all questions to get your test result.
1) ____________is a document that states the goals of a business and presents a framework for achieving those goals.
A
trade customs
B
profit
C
printing estimate
D
business plan
2) _________ is an offer to print a particular job for a specified price.
A
printing estimate
B
business plan
C
trade customs
D
profit
3) ______ are understood rules or implied laws used in the printing industry that have been validated by courts as binding agreements.
A
printing estimates
B
profits
C
trade customs
D
business plans
4) ____ to receive more income from the sale of products or services that it spends for raw materials, employee salaries, building rent, taxes, bills, and other costs of doing business.
A
profit
B
trade custom
C
printing estimate
D
business plan
5) _______ are the prices paid for items that are consumed as a job is printed, primarily paper and ink.
A
profits
B
fixed costs
C
material costs
D
labor costs
6) ______are the people costs involved in operating a business.
A
fixed costs
B
labor costs
C
profits
D
material costs
7) _____ are expenses that remain the same, regardless of the volume of business. (i.e. utilities, telephone, office supplies, advertisements.)
A
labor costs
B
material costs
C
profits
D
fixed costs
8) _____ is a business owned by one person.
A
single proprietership
B
partnership
C
corporation
9) ______ is a business owned by two or more people. The owners and the business are considered a single entity and pay income tax on the profits of the business.
A
corporation
B
single proprietership
C
partnership
10) ____ is a separate legal entity from the people who own or manage it.
A
corporation
B
single proprietership
C
partnership
*select an answer for all questions
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