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PRAXIS Business-Education-Content-Knowledge-5101 Exam Syllabus Topics:

PRAXIS Praxis Business Education: Content Knowledge (5101)Exam Sample Questions:

Question 1

The term "laissez-faire" is primarily associated with a

A. planned economic system
B. free enterprise economic system
C. command economic system
D. mixed economic system

Question 2

The interest rate on short-term loans that large banks charge their commercial borrowers who have excellent credit ratings is called the

A. prime rate
B. market rate
C. funds rate
D. discount rate

Question 3

A college graduate wants to start a business and looks into franchise opportunities. The graduate has $30,000 and has narrowed the selection to three different franchise choices. Which of the following franchise credentials is the most important to review?

A. Broker policy agreement
B. Franchise disclosure document
C. Owner's handbook
D. Fee schedule agreement

Question 4

At the close of a fiscal period, the Prepaid Insurance Account shows a debit balance of $600, and an examination of entries in the Insurance Register shows $500 as expired insurance. Which of the following is the appropriate adjusting entry to be made as a part of the adjusting process?

A. Debit Insurance Expense $500, credit Prepaid Insurance $500
B. Debit Insurance Expense $500, credit Income and Expense Summary $500
C. Debit Insurance Expense $100, credit Prepaid Insurance $100
D. Debit Prepaid Insurance $100, credit Insurance Expense $100

Question 5

Which of the following is a recommendation statement for a business report?

A. Employees lack the confidence to use the network.
B. Over half of the employees could not complete an evaluation of the network.
C. The network is not functioning correctly.
D. All employees should receive formal training on the network.

Solutions: