TN BUSINESS AND LAW EXAM QUIZZES
COMPLETE QUESTIONS AND CORRECT
ANSWERS
\Q\.What shows the activity of duration and sequence of tasks to be completed? -
ANSWERS✔-bar chart
\Q\.Which financial statement would one find depreciation on? - ANSWERS✔-
income statement
\Q\.Medical treatment can be defined as: - ANSWERS✔-management and care of
a patient
\Q\.Establishing (blank) will ensure that your customer is aware of your progress
and of any concerns that might arise - ANSWERS✔-communication
\Q\.(blank) is defined as including real estate, lands, tenements, and
hereditaments - ANSWERS✔-real property
\Q\.This is not a purpose of marketing: - ANSWERS✔-opening a checking account
,\Q\.What is the gross pay of a non exempt employee who works 50 hours during a
holiday week, and receives 8 hours additional pay for the holiday? The employee
earns $13.50 per hour - ANSWERS✔-$850.50
(13.5 x 48 = 648
20.25 x 10 = 202.50
648 = 202.50 = 850.50)
\Q\.This is not used as a guideline when obtaining a bond... - ANSWERS✔-non
experience
\Q\.Use information from (blank) to help determine accurate job costs -
ANSWERS✔-previous jobs
\Q\.If an employee earns $112,000 per year, what is the TOTAL amount of
medicare that both employer and employee is to pay in? - ANSWERS✔-$3,248
(112,000 x (1.45 x 2) = 3,248)
\Q\.Who pays into FUTA? - ANSWERS✔-employer
\Q\.An entrepreneur is a - ANSWERS✔-person
\Q\.(blank) absolves the indemnified party from any payment for losses and
damages incurred by a third party - ANSWERS✔-indemnification
, \Q\.Which Form is used for Tennessee's Foreign Limited Partnership Registration?
- ANSWERS✔-SS-4473
\Q\.Is insurance a guideline for a job description? - ANSWERS✔-no
\Q\.An employer is liable to pay both state and federal employment taxes if wages
to employees total (blank) or more in any quarter of a calendar year -
ANSWERS✔-$1,500
\Q\.An independent contractor is usually paid by - ANSWERS✔-flat fee
\Q\.What is the net income when there is an income of $92,000, expenses of
$24,000, and costs of goods sold is $34,000? - ANSWERS✔-$34,000
\Q\.If D&K Construction's shareholders wish to limit their liabilities, they should
become a - ANSWERS✔-C Corporation
\Q\.When starting a business, the first thing one should decide is - ANSWERS✔-
the legal structure of the business
\Q\.FUTA tax base and tax rate is generally calculated at? - ANSWERS✔-current
prevailing rate
\Q\.Which of the following insurance will protect an organization's officers from
liability? - ANSWERS✔-D and O
COMPLETE QUESTIONS AND CORRECT
ANSWERS
\Q\.What shows the activity of duration and sequence of tasks to be completed? -
ANSWERS✔-bar chart
\Q\.Which financial statement would one find depreciation on? - ANSWERS✔-
income statement
\Q\.Medical treatment can be defined as: - ANSWERS✔-management and care of
a patient
\Q\.Establishing (blank) will ensure that your customer is aware of your progress
and of any concerns that might arise - ANSWERS✔-communication
\Q\.(blank) is defined as including real estate, lands, tenements, and
hereditaments - ANSWERS✔-real property
\Q\.This is not a purpose of marketing: - ANSWERS✔-opening a checking account
,\Q\.What is the gross pay of a non exempt employee who works 50 hours during a
holiday week, and receives 8 hours additional pay for the holiday? The employee
earns $13.50 per hour - ANSWERS✔-$850.50
(13.5 x 48 = 648
20.25 x 10 = 202.50
648 = 202.50 = 850.50)
\Q\.This is not used as a guideline when obtaining a bond... - ANSWERS✔-non
experience
\Q\.Use information from (blank) to help determine accurate job costs -
ANSWERS✔-previous jobs
\Q\.If an employee earns $112,000 per year, what is the TOTAL amount of
medicare that both employer and employee is to pay in? - ANSWERS✔-$3,248
(112,000 x (1.45 x 2) = 3,248)
\Q\.Who pays into FUTA? - ANSWERS✔-employer
\Q\.An entrepreneur is a - ANSWERS✔-person
\Q\.(blank) absolves the indemnified party from any payment for losses and
damages incurred by a third party - ANSWERS✔-indemnification
, \Q\.Which Form is used for Tennessee's Foreign Limited Partnership Registration?
- ANSWERS✔-SS-4473
\Q\.Is insurance a guideline for a job description? - ANSWERS✔-no
\Q\.An employer is liable to pay both state and federal employment taxes if wages
to employees total (blank) or more in any quarter of a calendar year -
ANSWERS✔-$1,500
\Q\.An independent contractor is usually paid by - ANSWERS✔-flat fee
\Q\.What is the net income when there is an income of $92,000, expenses of
$24,000, and costs of goods sold is $34,000? - ANSWERS✔-$34,000
\Q\.If D&K Construction's shareholders wish to limit their liabilities, they should
become a - ANSWERS✔-C Corporation
\Q\.When starting a business, the first thing one should decide is - ANSWERS✔-
the legal structure of the business
\Q\.FUTA tax base and tax rate is generally calculated at? - ANSWERS✔-current
prevailing rate
\Q\.Which of the following insurance will protect an organization's officers from
liability? - ANSWERS✔-D and O
