DECA PMK Test Questions Answered Correctly Latest Update 2025-2026
sole proprietorship - Answers a form of business ownership with a single owner who usually actively
manages the company
inquiry - Answers a request for information
touch point - Answers point of contact between a business and its costumers
speculative risks - Answers risks that may result in a loss, no change, or a gain
pure risk - Answers a risk that carries the possibility of loss or no loss
Robinson-Patman Act - Answers prohibits price discrimination and states that all businesses purchasing
similar amounts and types of products should be charged the same price
whats the governments main source of revenue? - Answers taxes
initiative - Answers the willingness to act without having to be told to do so
Contingency plan - Answers alternate course of action
net pay - Answers Amount of income left after taxes and deductions have been taken out.
gross pay - Answers the total amount of an employee's earnings before deductions are taken out
credit union - Answers nonprofit financial cooperative set up to provide savings and credit services to its
members, who are also the owners of the credit union
rate of return - Answers the percentage of increase in the value of your savings from earned interest
inflation - Answers A general and progressive increase in prices
assets - Answers resources owned by a business
liability - Answers An amount owed by a business
equity - Answers Assets a company already owns and can use to finance a new venture
repossession - Answers Taking away property due to failure to make loan or credit payments
foreclosure - Answers The seizure of property from borrowers who are unable to repay their loans
truth in lending act - Answers requires businesses to provide credit customers with all the information
that applies to their accounts and send customers regularly updated statements showing the status of
their accounts
where is an endorsement signes - Answers on the back of the check
sole proprietorship - Answers a form of business ownership with a single owner who usually actively
manages the company
inquiry - Answers a request for information
touch point - Answers point of contact between a business and its costumers
speculative risks - Answers risks that may result in a loss, no change, or a gain
pure risk - Answers a risk that carries the possibility of loss or no loss
Robinson-Patman Act - Answers prohibits price discrimination and states that all businesses purchasing
similar amounts and types of products should be charged the same price
whats the governments main source of revenue? - Answers taxes
initiative - Answers the willingness to act without having to be told to do so
Contingency plan - Answers alternate course of action
net pay - Answers Amount of income left after taxes and deductions have been taken out.
gross pay - Answers the total amount of an employee's earnings before deductions are taken out
credit union - Answers nonprofit financial cooperative set up to provide savings and credit services to its
members, who are also the owners of the credit union
rate of return - Answers the percentage of increase in the value of your savings from earned interest
inflation - Answers A general and progressive increase in prices
assets - Answers resources owned by a business
liability - Answers An amount owed by a business
equity - Answers Assets a company already owns and can use to finance a new venture
repossession - Answers Taking away property due to failure to make loan or credit payments
foreclosure - Answers The seizure of property from borrowers who are unable to repay their loans
truth in lending act - Answers requires businesses to provide credit customers with all the information
that applies to their accounts and send customers regularly updated statements showing the status of
their accounts
where is an endorsement signes - Answers on the back of the check
