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Business Management: Exam Review Questions with Correct Answers 2025
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Business Management: Exam Review Questions with Correct Answers 2025
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Business Management Exam ReviewQuestions with Correct Answers 2025
WhenAisAaAbudgetAconsideredAtoAbeAbalanced?A-ACORRECTAANSWERA-
WhenAtheAamountAyouAspendAisAequalAorAlessAthanAtheAamountAyouAearn
InAaAbalancedAbudget,AtheAamountAyouA________AisA________AtheAamountAyouAearn.A-
ACORRECTAANSWERA-spend;AequalAto
WhichAofAtheAfollowingAisAaAVARIABLEAexpense?A-ACORRECTAANSWERA-Groceries
WhichAofAtheAfollowingAisAaAFIXEDAexpense?A-ACORRECTAANSWERA-RentalApayments
WhatAisAincome?A-ACORRECTAANSWERA-incomeAisAmoneyAyouAearn,AusuallyAfromAworkingAatAaAjob
WhichAofAtheAfollowingAwouldAbeAanAexampleAofAaANEED?A-ACORRECTAANSWERA-aAwarmAwinterAcoat
WhichAofAtheAfollowingAwouldAbeAanAexampleAofAaAWANT?A-ACORRECTAANSWERA-AirlineAtickets
WhatAisAMedicare?A-ACORRECTAANSWERA-
MedicareAisAtheAfederalAhealthAinsuranceAprogramAforApeopleAageA65
WhatAhappensAifAyouAspendAmoneyAonAthingsAyouAwantAbeforeAthingsAyouAneed?A-ACORRECTAANSWERA-
YouAlimitAyourAabilityAtoAsaveAforAhighApricedAitems,AlikeAhigherAeducation
WhatAisAoneAwayAtoAbeginAsavingAstartupAcapital?A-ACORRECTAANSWERA-
SetAasideAaApositionAofAyourAincomeAeachAmonth
WhatAisAtakeAhomeApay?A-ACORRECTAANSWERA-
TheAamountAleftAoverAfromAyourAmonthlyApaycheckAafterAdeductions
, WhatAisAtheAdefinitionAofAanAentrepreneur?A-ACORRECTAANSWERA-
AnAentrepreneurAisAsomeoneAwhoAcreates,AownsAandApotentiallyArunsAaAbusiness.
AnAexampleAofAanAassetAisA-ACORRECTAANSWERA-AllAofAtheAabove
WhichAofAtheAfollowingAisAanAadvantageAofAstartingAyourAownAbusiness?A-ACORRECTAANSWERA-
YouAhaveAcontrolAoverAwhereAandAwhenAyouAwork.
WhatAroleAdoAentrepreneursAplayAinAeconomics?A-ACORRECTAANSWERA-
EntrepreneursAcreateAtheAbusinessesAthatAproduceAproductsAandAservicesAthatAmeetAtheAwantsAandAneed
sAofAconsumers
WhatAareAtheAfourApartsAofAAnalysis?A-ACORRECTAANSWERA-
Strengths,AWeaknesses,AOpportunities,AThreats
JackAandAMalcolmAareAconsideringAopeningAupAaAshoeAstoreAbutAfirstAneedAtoAdoAmarketAresearch.AWhichA
oneAofAtheseAisANOTApartAofAmarketAprocess?A-ACORRECTAANSWERA-
StartApromotingAtheirAshoeAstoreAtoApeopleAinAtheAneighborhood
WhichAofAtheAfollowingAisAaAfixedAexpenseAforAMaria'sAsandwichAfoodAtruck?A-ACORRECTAANSWERA-
TruckAinsurance
WhichAofAtheAfollowingAisAaAstart-upAexpenseAforAjeffrey'sAfoodAtruck?A-ACORRECTAANSWERA-
KitchenAappliancesAandAotherAequipmentAneededAtoAconductAherAbusiness
WhichAofAtheAfollowingAisANOTAaAcreativeAthinkingAexerciseAentrepreneursAusedAtoAgenerateAideas?A-
ACORRECTAANSWERA-JudgeAEachAideaAasArealisticAorANot
YourAfriendAisAdevelopingAaAmarketingAplanAforAherAbusiness.AWhatAshouldAsheAputAinAthisAplan?A-
ACORRECTAANSWERA-AllAofAtheAabove
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