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Arizona FBLA Intro to Business Test|100 Q’s and A’s|100% Accurate
Arizona FBLA Intro to Business Test|100 Q’s and A’s|100% Accurate
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Arizona FBLA Intro to BusinessTest|100 Q’s and A’s|100%
Accurate
TF? Scarcity is a problem that is faced by individuals and businesses but not
by governments. - -False
- TF? In the private enterprise system, you may start or invest in any
business as long it is not illegal to do so. - -True
- TF? Economic growth refers to a steady increase in the production of goods
and services in an economic system. - -True
- TF? The base year used in comparing GDPs adds confusion to the
comparison. - -False
- TF? Consumers often have a negative or narrow view of marketing. - -True
- TF? One of the ways in which governments borrow money is through the
selling of bonds. - -True
- TF? Human resources, the people who work for the business, are important
to every business. - -True
- TF? Profit sharing means that employees receive their regular
compensation plus a share of the profits earned by the company. - -True
- TF? It is not necessary to include a personal data sheet if you have a well-
written and complete letter of application. - -False
- TF? Retired business people can belong to an organization that provides
specialized assistance to small-business owners. - -True
- TF? Property that is used as security to back up a loan is known as
collateral. - -True
- TF? Simple interest includes the total percentage cost of credit on a yearly
basis. - -False
- TF? The maturity date is the date on which the loan must be repaid. - -
True
, - TF? The market value of a stock is set by the company that issues the
stock. - -False
- TF? A stock exchange is a place where representatives of buyers and
sellers meet to conduct business. - -True
- TF? A policyholder is the person who must rely on another for financial
support. - -False
- TF? Unemployment insurance helps replace income that is lost when you
cannot work because of an illness or injury. - -False
- TF? Marketing activities add value to a product. - -True
- TF? Labor contracts sometimes have clauses relating to working
conditions. - -True
- TF? An example of government protection is through contracts. - -True
- TF? Keyboarding ability is not important for a person's basic computer
literacy. - -False
- TF? A blank endorsement usually includes the words "For deposit only." - -
False
- TF? The drawer of a check is the bank or financial institution. - -False
- TF? When preparing a bank reconciliation, an outstanding check must be
added to the bank-statement balance. - -False
- TF? As long as permanent policies are kept in force, they accumulate cash
value plus provide life insurance. - -True
- Which of the following statements about natural resources is true?
Natural resources satisfy wants by themselves.
Natural resources require people to turn them into goods.
Natural resources come from the earth and water but not the sky.
Natural resources include people who operate plows and tractors. - -Natural
resources require people to turn them into goods.
- The economic system generally found in countries with democratic
governments is ____. - -Market
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