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Twelfth Grade (Grade 12) Business Questions

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Grade 12 Business
When multiple companies insure a property, together they will pay more than the economic loss.
  1. True
  2. False
Grade 12 Accounting
What are liabilities?
  1. costs of selling products or services
  2. distributions to stockholders
  3. owners' claims to resources
  4. expense to run business
  5. amounts owed
Grade 12 Business Technology
What does a credit score tell about a consumer?
  1. The total number of credit accounts a consumer has
  2. The consumer's credit worthiness
  3. How long the person has had credit
  4. The average amount the consumer owes on their accounts
Grade 12 Accounting
Resources owned by a business are referred to as
  1. owners' equity.
  2. liabilities.
  3. assets.
  4. revenues.
Grade 12 Accounting
A credit to the accounts receivable account
  1. indicates a sale to customers on account has occurred.
  2. indicates a payment from customers on their account has been received.
  3. is an error.
  4. indicates that a liability has been incurred.
Grade 12 Accounting
A debit is the normal balance for which account listed below?
  1. Capital account
  2. Service Revenue account
  3. Accounts Payable account
  4. Accounts Receivable account
Grade 12 Accounting
What's revenue?
  1. costs of selling products or services
  2. expense to run business
  3. sales of products or services
  4. distributions to stockholders
  5. Assets purchased to run business
Grade 12 Accounting
What are expenses?
  1. Cost of selling products or services
  2. Amounts owed
  3. Distributions to stockholders
  4. Owners' claims to resources
Grade 12 Accounting
What is owners' equity?
  1. sales of products or services
  2. owners' claims to resources
  3. resources owned
  4. costs of selling products or services
  5. amounts owed
Grade 12 Accounting
XYZ, Inc. paid its supplier $1,000 to satisfy an accounts payable balance. How should XYZ record this transaction?
  1. Debit accounts payable and credit cash for $1,000.
  2. Debit supplies expense and credit cash for $1,000.
  3. Credit accounts payable and debit cash for $1,000.
  4. Only credit a cash for $1,000.
Grade 12 Accounting
XYZ, Inc. borrowed $1,000 from the bank and debited its cash account for $1,000. What should be done to complete the recording of the transaction?
  1. Nothing further must be done.
  2. Debit a owners' equity account for $1,000.
  3. Credit another asset account for $1,000.
  4. Credit a liability account for $1,000.
Grade 12 Business Technology
Which political party believes that government is usually the best solution to solving important social and economic problems?
  1. Republican
  2. Democratic
  3. Libertarian
  4. Tea Party
Grade 12 Business Technology
Convert binary number 10011 to decimal
  1. 19
  2. 11
  3. 23
  4. 9
Grade 12 Business Technology
What is the #1 reason employers give when asked why they did not hire someone for a job?
  1. Person being interviewed answered their phone during the interview
  2. Person being interviewed was fired from their last job
  3. Person being interviewed made a very bad first impression
  4. Person being interviewed was not confident during the interview
Grade 12 Business Technology
Which type of resume places emphasis on your work experience?
  1. Chronological
  2. Skills
  3. Neither
  4. Both
Grade 12 Accounting
If total liabilities decreased by $15,000 and stockholders' equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?
  1. $20,000 increase
  2. $10,000 decrease
  3. $10,000 increase
  4. $15,000 decrease
Grade 12 Business Technology
which of the following statements is true?
  1. Your resume should be a list of your accomplishments
  2. Your resume should be an autobiography
  3. Your resume should simply be a list of your job duties
  4. All are true
Grade 12 Business Technology
The Business career cluster is only for those people with college degrees.
  1. True
  2. False
Grade 12 Business Technology
Paid form of nonpersonal presentation and promotion of ideas, goods, or services by and identified sponsor.
  1. advertising
  2. news release
  3. publicity
  4. institutional promotion
Grade 12 Marketing
Dividing a market based on the status of different occupations and level of pay is an example of what segmentation?
  1. Social Class
  2. Gender
  3. Income
  4. Education
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