Review & Prep Quizzes

Before you begin the final exam, complete this diagnostic review.
Each section revisits a key month from the learning roadmap.
Answer the questions, then check explanations in the Answers & Feedback section below.

🧾 Foundations of Business & Money

1️⃣ What is the main goal of a business?
A. To create social media content
B. To provide value in exchange for income
C. To hire as many employees as possible
D. To buy and sell randomly

2️⃣ Which of the following best represents an opportunity cost?
A. The price printed on a receipt
B. The next best option you give up when making a choice
C. A tax paid on income
D. The amount borrowed from a bank

💰 Accounting Basics

3️⃣ In double-entry bookkeeping, every transaction has:
A. One entry only
B. Two equal and opposite entries
C. No measurable impact
D. Random record placement

4️⃣ Which of these pairs correctly represents a debit and a credit?
A. Cash ↑ = Credit, Supplies ↑ = Debit
B. Cash ↓ = Debit, Expense ↓ = Credit
C. Revenue ↑ = Debit, Expense ↑ = Credit
D. Cash ↑ = Credit, Sales ↑ = Debit

🧠 Business Acumen & Skills

5️⃣ What’s the first step in effective decision-making?
A. Choose at random
B. Analyze the problem and options
C. Ask others to decide for you
D. Wait until someone else takes initiative

6️⃣ A win–win negotiation means:
A. Only one side benefits
B. Both sides find value in the agreement
C. The more aggressive side wins
D. No agreement is reached

🚀 Entrepreneurship Project

7️⃣ What’s the primary purpose of a business plan?
A. To decorate the classroom wall
B. To outline goals, strategy, and resources for a business
C. To impress investors with complex charts
D. To replace accounting records

8️⃣ Which comes first when building a startup?
A. Market research
B. Hiring a team
C. Running advertisements
D. Writing press releases

📣 Marketing & Management

9️⃣ Which of the following represents the 4P model?
A. People, Progress, Price, Promotion
B. Product, Price, Place, Promotion
C. Product, Process, People, Planning
D. Position, Power, Policy, Public

10️⃣ What’s a SMART goal?
A. A general statement of ambition
B. A goal that is vague but inspiring
C. One that is Specific, Measurable, Achievable, Relevant, Time-bound
D. Any goal that looks creative

🎓 Capstone & Leadership

11️⃣ During crisis management, an effective leader should:
A. Ignore stress and hope it resolves
B. Blame the team for poor results
C. Communicate clearly and set short-term priorities
D. Avoid all decisions until calm returns

12️⃣ A business showing 30% ROI on its initial investment indicates:
A. 30% of income was lost
B. Profit equals 30% of what was invested
C. Revenue was 30% higher than expenses
D. The company owes 30% of its balance

🧩 Answers & Feedback

Q	Correct Answer	Explanation
1	B	Businesses exist to create value and earn profit through exchange.
2	B	Opportunity cost is the benefit lost from the next best alternative.
3	B	Double-entry ensures balance — every debit has a matching credit.
4	A	Cash increases (Debit), Supplies increase (Debit), Expenses cause Cash decrease (Credit).
5	B	Decision-making starts with problem definition and analysis.
6	B	A win–win deal maximizes mutual satisfaction, not dominance.
7	B	A business plan clarifies vision, goals, and structure.
8	A	Researching your market ensures your idea solves real needs.
9	B	Product, Price, Place, Promotion — the classic 4P marketing mix.
10	C	SMART goals are measurable and time-bound, enabling accountability.
11	C	Clear communication and short-term focus stabilize teams under stress.
12	B	ROI of 30% means profit equals 30% of the initial investment.

📘 How to Use This Quiz

Score 1 point per correct answer (max = 12).
10–12 = Ready for Capstone Exam
7–9 = Review your weak topics
< 7 = Revisit previous modules before attempting the final test

Next Step

Proceed to
👉 Final Exam →