[STUDY GUIDE] • HIGH-YIELD PRACTICE & REVIEW EDITION
ETS Business Exam Questions &
Answers Latest Comprehensive
2026/2027 Edition
Comprehensive Examination Question Bank • Concept Mapping
TOTAL QUESTIONS EXAM TOPICS RATIONALES
100 Questions 6 Modules 100% Verified
DOCUMENT OVERVIEW
This document contains 100 verified questions with correct answers covering various aspects of business,
including accounting, economics, finance, and management. Each item provides a clear explanation of the
underlying principles, making it suitable for exam preparation, comprehensive review, and professional
certification study.
EXAM BLUEPRINT & TOPIC DISTRIBUTION
Systematic breakdown of subject domains and exam coverage.
Topic Module Scope & Core Focus Questions Share (%)
Concepts related to cost consideration, financial reporting,
Accounting Principles and asset classification. 17 Qs 17.0%
Principles governing market behavior, price elasticity, and
Economics Fundamentals economic indicators. 17 Qs 17.0%
Key aspects of financial management, investment valuation,
Finance Concepts and capital structure. 17 Qs 17.0%
Methods for evaluating financial statements and performance
Financial Analysis metrics. 17 Qs 17.0%
Frameworks for understanding team dynamics and
Management Theories organizational behavior. 16 Qs 16.0%
Legal Considerations in Understanding of legal principles related to corporate
Business governance and liability. 16 Qs 16.0%
Total Exam Coverage 6 Integrated Topic Modules 100 Qs 100.0%
Confidential • Student Study Edition • Practice & Review Guide Page 1 of 20
,STUDENT STUDY & MASTERY EDITION PRACTICE & REVIEW GUIDE
TOPIC 1: ACCOUNTING PRINCIPLES
17 Questions • 17.0% of Exam • Concepts related to cost consideration, financial reporting, and asset classification.
QUESTION 1
Accounting: What costs should be considered when making non-routine decisions? (3)
Answer: The price of material, Factory overhead costs, and the price of labor.
QUESTION 2
Accounting: Total product/ units produced and sold equals??
Answer: Product Cost per Unit.
QUESTION 3
Accounting: Which report is the connecting link between the income statement and the
balance sheet?
Answer: Cash flow statement.
QUESTION 4
Accounting: Expense accounts would have a balance on which side?
Answer: Left side.
QUESTION 5
Accounting: What would be classified as a current asset on the balance sheet
Answer: Accounts receivable.
Confidential • Student Study Edition • Practice & Review Guide Page 2 of 20
, STUDENT STUDY & MASTERY EDITION PRACTICE & REVIEW GUIDE
QUESTION 6
Accounting: What are the elements of internal control? (3)
Answer: Control environment, monitoring, and control procedures.
QUESTION 7
Accounting: A cost that will not be affected by later decisions is termed an
Answer: Sunk Cost.
QUESTION 8
Accounting: What budget allows for adjustments in activity levels?
Answer: Flexible budget.
QUESTION 9
Accounting: What are the standard framework of guidelines for financial accounting
used in any given jurisdiction, also known as accounting standards??
Answer: GAAP.
QUESTION 10
Economics: Rational people make decisions on the margins. Which statement would
NOT result in a purchase of the product being analyzed
Answer: MC > MB.
QUESTION 11
Finance: For a given amount, the lower the discount rate, the less the present value
Answer: False.
Confidential • Student Study Edition • Practice & Review Guide Page 3 of 20
ETS Business Exam Questions &
Answers Latest Comprehensive
2026/2027 Edition
Comprehensive Examination Question Bank • Concept Mapping
TOTAL QUESTIONS EXAM TOPICS RATIONALES
100 Questions 6 Modules 100% Verified
DOCUMENT OVERVIEW
This document contains 100 verified questions with correct answers covering various aspects of business,
including accounting, economics, finance, and management. Each item provides a clear explanation of the
underlying principles, making it suitable for exam preparation, comprehensive review, and professional
certification study.
EXAM BLUEPRINT & TOPIC DISTRIBUTION
Systematic breakdown of subject domains and exam coverage.
Topic Module Scope & Core Focus Questions Share (%)
Concepts related to cost consideration, financial reporting,
Accounting Principles and asset classification. 17 Qs 17.0%
Principles governing market behavior, price elasticity, and
Economics Fundamentals economic indicators. 17 Qs 17.0%
Key aspects of financial management, investment valuation,
Finance Concepts and capital structure. 17 Qs 17.0%
Methods for evaluating financial statements and performance
Financial Analysis metrics. 17 Qs 17.0%
Frameworks for understanding team dynamics and
Management Theories organizational behavior. 16 Qs 16.0%
Legal Considerations in Understanding of legal principles related to corporate
Business governance and liability. 16 Qs 16.0%
Total Exam Coverage 6 Integrated Topic Modules 100 Qs 100.0%
Confidential • Student Study Edition • Practice & Review Guide Page 1 of 20
,STUDENT STUDY & MASTERY EDITION PRACTICE & REVIEW GUIDE
TOPIC 1: ACCOUNTING PRINCIPLES
17 Questions • 17.0% of Exam • Concepts related to cost consideration, financial reporting, and asset classification.
QUESTION 1
Accounting: What costs should be considered when making non-routine decisions? (3)
Answer: The price of material, Factory overhead costs, and the price of labor.
QUESTION 2
Accounting: Total product/ units produced and sold equals??
Answer: Product Cost per Unit.
QUESTION 3
Accounting: Which report is the connecting link between the income statement and the
balance sheet?
Answer: Cash flow statement.
QUESTION 4
Accounting: Expense accounts would have a balance on which side?
Answer: Left side.
QUESTION 5
Accounting: What would be classified as a current asset on the balance sheet
Answer: Accounts receivable.
Confidential • Student Study Edition • Practice & Review Guide Page 2 of 20
, STUDENT STUDY & MASTERY EDITION PRACTICE & REVIEW GUIDE
QUESTION 6
Accounting: What are the elements of internal control? (3)
Answer: Control environment, monitoring, and control procedures.
QUESTION 7
Accounting: A cost that will not be affected by later decisions is termed an
Answer: Sunk Cost.
QUESTION 8
Accounting: What budget allows for adjustments in activity levels?
Answer: Flexible budget.
QUESTION 9
Accounting: What are the standard framework of guidelines for financial accounting
used in any given jurisdiction, also known as accounting standards??
Answer: GAAP.
QUESTION 10
Economics: Rational people make decisions on the margins. Which statement would
NOT result in a purchase of the product being analyzed
Answer: MC > MB.
QUESTION 11
Finance: For a given amount, the lower the discount rate, the less the present value
Answer: False.
Confidential • Student Study Edition • Practice & Review Guide Page 3 of 20
