BML Test 8 Set 1 Question Preview (ID: 8284)


Business Management And Law Chapter 8 Test Set 1. TEACHERS: click here for quick copy question ID numbers.

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) inventory records
d) asset records

Which of these is a list of all items of value owned by a business?
a) account records
b) tax records
c) inventory records
d) asset records

Which of these refers to the electronic transfer of net pay into an employee's account?
a) ATM services
b) direct deposit
c) magic
d) lightning bolts of cash

Financial records are generally kept and updated using
a) pencil and paper
b) computers
c) stone and chisel
d) smoke signals

Bills that a company plans to pay within a year are called
a) current liabilities
b) current assets
c) fixed costs
d) variable costs

The best source of information when preparing a budget is
a) wikipedia
b) the company's past records
c) a crystal ball
d) business mouse

This ratio shows the rate of return on the money invested in a company.
a) debt to equity ratio
b) current ratio
c) net income ratio
d) return on equity ratio

Which two financial records are important for staying out of legal trouble?
a) records of accounts and depreciation records
b) asset records and inventory records
c) tax records and payroll records
d) cash records and tax records

This ratio tells whether a company can pay its bills as they come due.
a) debt to equity ratio
b) current ratio
c) return on equity ratio
d) net income ratio

Records that contain information on employees, their pay and compensation and benefits
a) Arista records
b) payroll records
c) account records
d) world records

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