Types of Businesses
Which of the following is an example of a service firm?
A. Cotton mill
B. Juice Factory
C. Mine
D. Landscape Company
Which of the following is NOT a step of the employment process in the HR department?
A. Assess employment needs
B. Recruit potential employees
C. Select employee who fulfills goals
D. Negotiate salary and benefits of new hires
D. Negotiate salary and benefits of new hires.
Which of the following is NOT a component of the marketing mix?
A. Product, B. Price, C. Promotion, D. Perception
A. Controls hiring decisions
B. Businesses cannot exist without cash flow
C. Focuses on the worth of the company
D. Controls the HR department
B. Businesses cannot exist without cash flow
Intrinsic motivation occurs internally and includes enjoyment and accomplishment.
True or False?
True
Which of the following is an example of a producer?
A. Cotton mill
B. Juice factory
C. Mine
D. Landscape company
C. Mine
Which of the following is NOT a role the HR department plays when helping orient new employees?
A. Introducing co-workers
B. Helping fill out paperwork
C. Assisting employees in their adjustment phase
D. Analyzing new employee morale
D. Analyzing new employee morale
Which of the following are the activities used to persuade consumers they need a product?
A. Product, B. Price, C. Promotion, D. Perception
C. Promotion
Items of value owned by a business are known as:
A. Assets, B. Liabilities, C. Owner's Equity, D. Bonds
A. Assets
Which of the following is the goal of the finance department?
A. Setting prices high enough to make a profit but low enough to attract customers?
B. Determining the use of company resources and funds
C. Producing goods in the most efficient and cost-effective manner
B. Determining the use of company resources and funds
Which of the following is not a business department mentioned in this unit?
A. Human resources
B. Finance
C. Marketing
D. External Relations
D. External Relations
Evaluating employee performance helps with all of the following EXCEPT which?
A. Transfers, B. Sick Leave, C. Layoffs, D. Promotions
B. Sick Leave
Which of the following is NOT a stage of the product life cycle?
A. Introduction, B. Growth, C. Evaluation, D. Maturity
C. Evaluation
Which of the following are the debts or obligations of a business?
A. Assets, B. Liabilities, C. Owner's Equity, D. Bonds
B. Liabilities
The focus of the maturity stage (stage 3) in the product life cycle is to build customer satisfaction and recognize competitors entering the market.
True or False?
False
Which of the following is NOT an example of a processor?
A. Cotton mill
B. Automobile factory
C. Oil refinery
D. Textile mill
B. Automobile factory
Which of the following is NOT a function of management?
A. Analyzing, B. Directing, C. Organizing, D. Planning
A. Analyzing
Which of the following is NOT a role of production and distribution in a company?
A. Facilities, B. Processing, C. Marketing, D. People
C. Marketing
Which of the following is NOT a responsibility of the Finance department?
A. Managing the use of company funds
B. Obtaining needed funds
C. Creating a financial plan
D. Establishing external relations
D. Establishing external relations
Which type of business produces processed goods by changing raw goods into a more finished product?
Intermediaries, Service Firms, Processors, or Producers?
Processors
A. Number of employees
B. Work activities the business performs
C. Age of the company
D. Profit level of the business
B. Work activities the business performs
Which of the following is NOT a level of Maslow's hierarchy of needs?
A. Self-actualization
B. Self-esteem
C. Personal Interest
D. Safety
C. Personal Interest
Which of the following correctly lists the needs of consumers which should be met?
A. Physical, social, psychological
B. Physical, psychological, economic
C. External, internal, social
A. Physical, social, psychological
Which of the following is NOT a source of funding?
A. Borrowing Funds
B. Selling Stocks
C. Investors
D. Decreasing owner contributions
D. Decreasing owner contributions
A system used to record, classify, summarize and report the financial position of a business is known as:
A. Management, B. Distribution, C. Accounting, D. HR
C. Accounting