10-Question IQ Quiz for Entrepreneurs: How Sharp is Your Business Mind?
Measure your entrepreneurial IQ with our 10-question quiz. Find out if you have the strategic thinking skills needed to succeed in business.
LD Web Desk 1. If the return on investment (ROI) for a project is 15% and you invest $20,000, what will be your profit from this investment?
$2,000
$2,500
$3,000
$3,500
Correct Answer
Wrong Answer
2. A business has three departments with the following profits: $120,000, $150,000, and $180,000. What is the average profit per department?
$140,000
$150,000
$160,000
$170,000
Correct Answer
Wrong Answer
3. A company's inventory turnover ratio is 8. If the cost of goods sold is $640,000, what is the average inventory value?
$80,000
$100,000
$120,000
$140,000
Correct Answer
Wrong Answer
4. If a product's cost price is $50 and it is sold at a 40% profit margin, what is the selling price?
$60
$65
$70
$75
Correct Answer
Wrong Answer
5. If you hire 5 employees at a salary of $3,000 each per month and 3 employees at a salary of $4,000 each per month, what is the total monthly payroll?
$27,000
$29,000
$31,000
$33,000
Correct Answer
Wrong Answer
6. If a company's operating expenses are $500,000 and represent 25% of its total revenue, what is the total revenue?
$1,500,000
$1,800,000
$2,000,000
$2,500,000
Correct Answer
Wrong Answer
7. You purchase a piece of equipment for $100,000, and it depreciates at a rate of 10% per year. What will be its value at the end of 3 years?
$70,000
$72,900
$75,000
$81,000
Correct Answer
Wrong Answer
8. A company's net income is $240,000, and it has 60,000 outstanding shares. What is the earnings per share (EPS)?
$3.00
$3.50
$4.00
$4.50
Correct Answer
Wrong Answer
9. If a product's price is reduced by 25% and the new price is $90, what was the original price?
$100
$110
$115
$120
Correct Answer
Wrong Answer
10. A business wants to increase its workforce by 20%. If it currently has 150 employees, how many new employees should it hire?
25
30
35
40
