Types of Businesses
Which business characteristic does a landscaping company fall under?
Service Firm
Group training gives employees hands-on practice with supervision.
A) True
B)False
A) True
Which system is used to record, classify, summarize and report the financial position of a business
Accounting
What is the action of promoting and selling products and services?
Marketing
What kind of motivation occurs internally and includes enjoyment and accomplishment.
Intrinsic motivation
Salvation Army is considered what kind of business?
Non-profit Organization
Which of the following is NOT a level of Maslow’s hierarchy of needs?
A) Personal Interest
B) Self-esteem
C) Self-actualization
D) Safety
A) Personal Interest
What are items and values owned by the business called?
Assets
What are the three modes of transportation distribution typically used?
Waterways
Railroads
Trucks
True or False- Psychological needs are those for necessities such as safety, security and health.
False
Which of the following are NOT an example of a processor?
A) Textile Mill
B) Cotton Mill
C) OilRefinery
D) Automobile Factory
D) Automobile Facotry
Human Resources
What departments responsibilities include creating a financial plan, managing use of company funds, and creating a financial plan?
Finance
What consists of four interrelated marketing strategies used to meet consumer needs
The Marketing Mix
Which department carries out the employee process?
Human Resources
Which type of business produces processed goods by changing raw goods into a more finished form?
What is achieved through performance appraisals?
Evaluations
What are debts or obligations of a business called.
Liabilities
How many stages are in the product life cycle?
4 stages
True or False:
Group training gives employees hands-on practice with supervision.
False
How are businesses classified?
By work performed and processes.
State one of the three functions of management
What financial sheet has assets and liabilities, and has to equal the same amount?
Balance Sheet
What's one resource available to supply products and services?
-Land
-Labor
-Capital
-Entrepreneurship
Which part of a company determines the use of company resources and funds?
Finance and Accounting