The Business Of Graphic Communications Question Preview (ID: 42264)


1. Students Can Explain The Planning Process For Starting A Business And The Business Basics. 2. Students Can Explain Trade Customs And Industry Challenges. TEACHERS: click here for quick copy question ID numbers.

______ 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) partnership
c) single proprietership
d)

_____ is a business owned by one person.
a) corporation
b) partnership
c) single proprietership
d)

_____ are expenses that remain the same, regardless of the volume of business. (i.e. utilities, telephone, office supplies, advertisements.)
a) fixed costs
b) labor costs
c) material costs
d) profits

______are the people costs involved in operating a business.
a) fixed costs
b) labor costs
c) material costs
d) profits

_______ are the prices paid for items that are consumed as a job is printed, primarily paper and ink.
a) fixed costs
b) labor costs
c) material costs
d) profits

____ 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) business plan
b) profit
c) printing estimate
d) trade custom

______ are understood rules or implied laws used in the printing industry that have been validated by courts as binding agreements.
a) business plans
b) profits
c) printing estimates
d) trade customs

_________ is an offer to print a particular job for a specified price.
a) business plan
b) profit
c) printing estimate
d) trade customs

____________is a document that states the goals of a business and presents a framework for achieving those goals.
a) business plan
b) profit
c) printing estimate
d) trade customs

____ is a separate legal entity from the people who own or manage it.
a) corporation
b) partnership
c) single proprietership
d)

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