Finance and Accounting
Which is a factor that affects the business environment?
a. Industry Competition c. Information Management
b. Staff organization d. Conflict Negotiation
A. Industry Competition
Some businesses use an automatic reorder system to maintain an adequate:
a. budget c. inventory of supplies
b. environment d. maintenance system
c. inventory of supplies
Maintaining an inventory of supplies helps a business to:
a. establish goals c. locate vendors
b. operate efficiently d. evaluate processes
B. Operate Efficiently
Which is the most efficient tool for gathering the external information that businesses need?
a. library c. software
b. internet d. textbooks
B. Internet
Chris likes to watch space flight reports and to read about plans for the future in space. Space exploration is one of his:
a. interests c. skills
b. abilities d. aptitudes
A. Interests
When handling emergency situations, it is important for business employees to:
a. Move the victim c. evacuate building
b. know what to do d. listen to the radio
B. Know what to do
Which would customers need to present at the time of purchase to get money take off the purchase price of the item?
a. coupon c. refund check
b. rebate d. sales receipt
a. Coupon
Which is an example of an economic service?
a. car stereo c. baseball glove
b. tennis shoes d. concert ticket
D. Concert Ticket
Which is an important component of computer systems?
a. software c. website
b. internet d. e-commerce
A. Software
Who decides what goods and services will by marketed in a private enterprise economic system?
a. legislators c. competitors
b. business people d. consumers
B. Business People
A killing frost destroys 80% of Florida's citrus crop. This will create:
a. pure competition c. a seller's market
b. a buyer's market d. inelastic demand
C. A seller's market
One factor that might limit the human resources available for certain jobs is an:
a. training programs c. safety record
b. company image d. inadequate pay
D. Inadequate Pay
The newly redesigned Toyota corolla is an example of what type of innovation:
a. Product c. Position
b. Process d. Paradigm
A. Product
Assets a company already owns and can use to finance a new venture are called:
a. accounts payable c. return on capital
b. dividends d. Equity
D. Equity
Most businesses expect their employees to show interest in the company by being:
a. Emotional c. cooperative
b. aggressive d. impulsive
C. Cooperative
After an employee collects the necessary facts, what is the next step in problem solving?
a. analyze information c. act on assumptions
b. define problem d. make a decision
A. Analyze the information
When businesses invest funds to expand, they are involved in the process of
a. selling c. finance
b. depreciation d. capitalism
C. Finance
The role of finance involves:
a. monitor employees c. buying supplies
b. pay employees d. obtaining funds
D. Obtaining funds
People who have limited work experience often include what type of reference on their resume?
a. personal c. social
b. family d. private
A. Personal
The one of the two main divisions of the trade industry is:
a. manufactures c. producers
b. retailers d. distributors
B. Retailers
What type of account is cash?
A. Asset C. Owner's Equity
B. Liability D. Account's Receivable
A. Asset
When prices increase, producers usually:
a. increase demand c. increase supply
b. decrease supply d. decrease profits
C. Increase Supply
A business that begins selling winter holiday decorations in late autumn is creating what type of utility?
a. Time c. Form
b. place d. possession
A. Time
Which provides government protection of business property:
a. Consumer protection laws c. Revenue
b. Patent d. Economic Incentives
B. Patent
Preventing secrutiy problems is important to businesses because the financial losses from these problems may force the business to:
a. expand c. move
b. close d. reorganize
B. Close