Test Bank For Business Essentials, Eighth Canadian Edition 8th Edition

Name: Test Bank For Business Essentials, Eighth Canadian Edition 8th Edition
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Test Bank For Business Essentials, Eighth Canadian Edition 8th Edition helps you test your knowledge with real exam-style questions. Download now to boost your confidence!

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TEST ITEM FILE
Fred Starke
Business Essentials
Eighth Canadian Edition
Ronald J. Ebert
Ricky W. Griffin
Frederick A. Starke
George Dracopoulos

Business Essentials, 8ce
Chapter 1: Understanding the Canadian Business System
1-1
Chapter 1 Understanding the Canadian Business System
1.1 Multiple-Choice Questions
1) Profit is
A) what remains after business expenses are subtracted from business revenues.
B) what remains after dividends have been paid to stockholders.
C) equal to total revenue minus cash expenses.
D) what remains after income taxes have been paid.
E) double the amount the company pays in.
Answer: A
Diff: 1 Type: MC Page Ref: 5
Skill: Knowledge
Objective: 1.1
2) What are profits?
A) Total money taken in by a corporation
B) Increases in income from year to year
C) Increases in a corporation's stock price
D) Revenue generated by goods and services
E) Difference between revenues and expenses
Answer: E
Diff: 1 Type: MC Page Ref: 5
Skill: Knowledge
Objective: 1.1
3) Profit is
A) the market value of shares of stock in a company.
B) the level of expenses divided by the firm's assets.
C) what remains after business expenses are subtracted from business revenues.
D) gross revenue minus taxes a company pays.
E) gross sales minus taxes a company pays.
Answer: C
Diff: 1 Type: MC Page Ref: 5
Skill: Knowledge
Objective: 1.1

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