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FBLA Entrepreneurship Test
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Avg score: 59% • Most missed: “____ is the assumption in business that a company has legal and ethical responsi…”
FBLA Entrepreneurship Test
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25 Questions

1. Loans backed by collateral are called
2. The ___ of ethics refers to social expectations of people's moral behavior.
3. ___ is a written statement listing the tasks and responsibilities of a position.
4. Immediate transfer of ownership of goods from a seller to a buyer for a price is called a
5. When a business allows another business to buy now and pay later, it is offering
6. Employees can request employers to take out payments for health or dental insurance from their pay. These are called
7. ____ is not one of the basic strategies for dealing with risk.
8. This type of pricing technique starts out with a low introductory price with the goal of building a strong customer base.
9. A business can buy insurance to cover risks associated with
10. Lexi decides to open a flower shop. She is operating a ____ business.
11. The ___ believes that the right thing for a person to do in any situation is the action that best serves that person's own long-term interests.
12. Co-ownership of property without the right of survivorship is
13. The list of people who receive salary or wage payments from a business is called a(n)
14. Union efforts to force employers to hire more workers than demanded for the task is referred to as
15. ___ covers a company's legal responsibility for the harm it may cause to others as a result of what it and its employees do or fail to do in its business operations.
16. ___ means to place the goods at the buyer's disposal.
17. Giving away pens, notepads, and t-shirts imprinted with the company name is an example of
18. The ____ follows the main body of a business plan.
19. A specific work activity an employee performs is called a
20. ____ are managers who work directly with the employees who perform the day-to-day tasks of a business.
21. ___ is the ability to learn a particular kind of job.
22. The ___ risk offers a chance to gain as well as lose from the event or activity.
23. ____ is not a risk associated with doing business in another country.
24. If a store sells snow shovels for half-price in the middle of the summer, the store is offering customers a
25. Income earned by ____ is double taxed.

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