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BML Final Set 13
Test Description: BML Final Set 13
Instructions: Answer all questions to get your test result.
1) Take-home pay is
A
the amount of your paycheck before taxes and other payroll deductions.
B
the amount of money you have left after paying your monthly expenses.
C
the amount of money left from your wages or salary after taxes and other payroll deductions.
D
your wages or salary plus the value of your benefits.
2) Once a business plan is written
A
it may be revised or updated periodically.
B
it should be revised and updated monthly.
C
it should never be revised.
D
it should be ignored.
3) Which of these is NOT usually true of an earnings report?
A
It is generally included with a paycheck.
B
It includes cumulative amounts for the year.
C
It includes information for the current pay period.
D
it includes financial information about the company.
4) Which of these is paid solely by an employee?
A
Medicare tax
B
income tax
C
unemployment tax
D
Social Security tax
5) Which of these is paid solely by an employer?
A
income tax
B
Medicare tax
C
Social Security tax
D
unemployment tax
6) Which of these is NOT a part of FICA?
A
Social Security
B
Medicare
C
Medicaid
D
all of these are part of FICA
7) To which of these do employees and employers both contribute?
A
FICA tax
B
welfare tax
C
income tax
D
unemployment tax
8) Energy and environmental management are responsibilities of the
A
information technology manager.
B
facilities manager.
C
logistics manager.
D
scheduling manager.
9) Which of these is NOT a result of having too many products in inventory?
A
missed sales
B
risk that products will become outdated before being sold
C
increased storage costs
D
increased risk that products will be lost or damaged before being sold
10) Generally speaking,
A
competitors work together to produce goods purchased by consumers or other businesses.
B
only one manufacturer is part of the process needed to produce goods purchased by consumers or other businesses.
C
several manufacturers are part of the process needed to produce goods purchased by consumers or other businesses.
D
businesses never work together to produce goods purchased by consumers or other businesses.
*select an answer for all questions
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