BUS 100 ACTUAL 2026 CORE EXAM TEST QUESTIONS AND
ANSWERS RATED A+
✔✔Income Statement - ✔✔A financial report that shows an organization's profitability
over a period of time
✔✔Revenue - ✔✔Is the total amount of money received from the sale of goods or
services as well as from other business activities
✔✔Expenses - ✔✔Are the costs incurred in the day-to-day operations of an
organization
✔✔Net Income - ✔✔Is the total profit or loss after all expenses including taxes have
been deducted from revenue
✔✔Balance Sheet - ✔✔A snapshot of an organization's financial position at a given
moment
✔✔Assets - ✔✔All assets accounts are listed in descending order of liquidity
✔✔Liabilities - ✔✔Total assets must be financed either through borrowing or through
owner investments
✔✔Owners' Equity - ✔✔Includes the owners' contributions to the organization along
with income earned by the organization
✔✔The Statement of Cash Flows - ✔✔Explains how the company's cash changed from
the beginning of the accounting period to the end
✔✔Cash from operating activities - ✔✔Combining changes in the revenue, expense,
current assets accounts, and liability accounts
✔✔Cash from investing activities - ✔✔Changes in the long-term or fixed asset accounts
✔✔Cash from financing activities - ✔✔Changes in the long-term liability accounts in
owners' equity
✔✔Short-term working capital - ✔✔short-term working capital, manage short term
assets & liabilities
✔✔Long-term capital planning - ✔✔long-term capital planning, analyzing needs &
selecting projects assets to
✔✔Capital Structure - ✔✔Decisions to raise money via debt and equity
, ✔✔Profitability Ratios - ✔✔Net income/sales
✔✔Asset Utilization Ratios - ✔✔sales/total assets
✔✔Liquidity Ratios - ✔✔Current assets-inventory/current liabilities
✔✔Debt Utilization Ratios - ✔✔operating income/interest
✔✔Per Share Data - ✔✔net income/# of shares outstanding
✔✔Push Strategy - ✔✔an attempt to motivate intermediaries to push the product down
to their customers
✔✔Pull Strategy - ✔✔The use of promotion to create customer demand for a product so
that consumers exert pressure on marketing channel members to make it available
✔✔Components of Promotion - ✔✔Advertising: paid from of non-personal
communication
Personal Selling: Direct, two-way communication with buyers (most flexible)
Publicity: through mass media (news story form)
Sales Promotion: direct inducements offering added value or some other incentive for
buyers
✔✔5 Components of Management Planning - ✔✔Planning
Organizing
Staffing
Directing
Controlling
✔✔Planning - ✔✔Determining an organization objectives & how to accomplish them
✔✔Types of Planning - ✔✔Strategic: long-term, senior management
Tactical: Short range, implanting activities in strategic plan
Operational: Short-term first line supervisors
✔✔Organizing - ✔✔Structuring resources & activities to accomplish objectives
✔✔Staffing - ✔✔Selecting & training employees to meet organizational objectives
✔✔Directing - ✔✔Motivating & leading employees to meet organizational objectives
✔✔Controlling - ✔✔Evaluating & correcting activities to keep organization on course
ANSWERS RATED A+
✔✔Income Statement - ✔✔A financial report that shows an organization's profitability
over a period of time
✔✔Revenue - ✔✔Is the total amount of money received from the sale of goods or
services as well as from other business activities
✔✔Expenses - ✔✔Are the costs incurred in the day-to-day operations of an
organization
✔✔Net Income - ✔✔Is the total profit or loss after all expenses including taxes have
been deducted from revenue
✔✔Balance Sheet - ✔✔A snapshot of an organization's financial position at a given
moment
✔✔Assets - ✔✔All assets accounts are listed in descending order of liquidity
✔✔Liabilities - ✔✔Total assets must be financed either through borrowing or through
owner investments
✔✔Owners' Equity - ✔✔Includes the owners' contributions to the organization along
with income earned by the organization
✔✔The Statement of Cash Flows - ✔✔Explains how the company's cash changed from
the beginning of the accounting period to the end
✔✔Cash from operating activities - ✔✔Combining changes in the revenue, expense,
current assets accounts, and liability accounts
✔✔Cash from investing activities - ✔✔Changes in the long-term or fixed asset accounts
✔✔Cash from financing activities - ✔✔Changes in the long-term liability accounts in
owners' equity
✔✔Short-term working capital - ✔✔short-term working capital, manage short term
assets & liabilities
✔✔Long-term capital planning - ✔✔long-term capital planning, analyzing needs &
selecting projects assets to
✔✔Capital Structure - ✔✔Decisions to raise money via debt and equity
, ✔✔Profitability Ratios - ✔✔Net income/sales
✔✔Asset Utilization Ratios - ✔✔sales/total assets
✔✔Liquidity Ratios - ✔✔Current assets-inventory/current liabilities
✔✔Debt Utilization Ratios - ✔✔operating income/interest
✔✔Per Share Data - ✔✔net income/# of shares outstanding
✔✔Push Strategy - ✔✔an attempt to motivate intermediaries to push the product down
to their customers
✔✔Pull Strategy - ✔✔The use of promotion to create customer demand for a product so
that consumers exert pressure on marketing channel members to make it available
✔✔Components of Promotion - ✔✔Advertising: paid from of non-personal
communication
Personal Selling: Direct, two-way communication with buyers (most flexible)
Publicity: through mass media (news story form)
Sales Promotion: direct inducements offering added value or some other incentive for
buyers
✔✔5 Components of Management Planning - ✔✔Planning
Organizing
Staffing
Directing
Controlling
✔✔Planning - ✔✔Determining an organization objectives & how to accomplish them
✔✔Types of Planning - ✔✔Strategic: long-term, senior management
Tactical: Short range, implanting activities in strategic plan
Operational: Short-term first line supervisors
✔✔Organizing - ✔✔Structuring resources & activities to accomplish objectives
✔✔Staffing - ✔✔Selecting & training employees to meet organizational objectives
✔✔Directing - ✔✔Motivating & leading employees to meet organizational objectives
✔✔Controlling - ✔✔Evaluating & correcting activities to keep organization on course
