Easy
Which type of customer is more likely to tell others of their experience?
- happy customer
- unhappy customer
unhappy customer
An SOP manual lays out:
-Strategic Operating Principles
-Stop Order Programs
-Single Opportunity Plans
-Standard Operating Procedures
Standard Operating Procedures
True or False:
A business often has to pay taxes on its inventory.
True
True or False:
If a salaried employee works one hour less per week than normal, they are paid less for that week.
False
Which is the correct order for the steps in the hiring process?
- interviewing candidates, screening, reviewing and verifying application information, and making an offer
- screening, reviewing and verifying application information, interviewing candidates, and making an offer
- reviewing and verifying application information, screening, interviewing candidates, and making an offer
- screening, interviewing candidates, reviewing and verifying application information, and making an offer
screening, interviewing candidates, reviewing and verifying application information, and making an offer
What is inventory?
-Equipment needed by the business to produce goods or services
-Goods the business has in stock to sell to the customer
-The building housing the business
-None of these
Goods the business has in stock to sell to the customer
A business plan is best described as:
-A 30-second pitch given to investors
-The historical record of what's been done with the business so far
-A blueprint for the business
-A projection of all possible future scenarios
A blueprint for the business
What is a disadvantage of odd shaped product designs?
- they are visually appealing
- they cost less to make
- they can be inefficient for packaging and shipping
- none of the above
they can be inefficient for packaging and shipping
A go-to-market strategy:
-Combines your marketing goals into a comprehensive plan
-Focuses on pricing and packaging only
-Describes your highest investment advertising channel
-Is the physical process of getting your goods to a market
Combines your marketing goals into a comprehensive plan
Which of the following is a concrete, practical reason for going into business?
- To see your creativity develop further.
- To prepare for retirement.
- To quit working for someone else.
- To have flexible hours.
To prepare for retirement.
A target consumer is:
-Who you will pitch to
-A potential investor
-Someone likely to purchase your product or service
-A consumer agency
Someone likely to purchase your product or service
What does SWOT stand for?
=Special Wholesale Offers and Terms
=Simple Ways Of Teambuilding
-Strengths, Weaknesses, Opportunities, Threats
-Swings, Waterworks, Octagons, Treats
Strengths, Weaknesses, Opportunities, Threats
A liability is:
- any debt that your business owes, such as a loan payment
- anything your business owns
- another word for a customer complaint
- an accounting item shown on the income statement
any debt that your business owes, such as a loan payment
An example of a risk not specific to a business is:
- one of a business's trucks getting in an accident
- a kitchen fire
- a customer slipping and falling
- an economic downturn
an economic downturn
Your research of competitors shows prices of $45, $78, $13, $125, and $66. If you throw out the highest and lowest data points (outliers), what is the mean of the remaining prices?
(HINT: add all the numbers together and then divide by the total number of numbers in the set.)
-45
-63
-66
-78
63
Which of the following defines rules for appropriate employee behavior?
- employee handbook
- articles of incorporation
- strategic plan
- operating plan
employee handbook
An advantage of social media advertising is:
- it is always free
- reach is essentially 100% of all customers
- you receive real-time information about who is seeing your ads and how they are reacting to them
you receive real-time information about who is seeing your ads and how they are reacting to them
Inventory is considered a:
- fixed asset
- current asset
- liability
- equity
current asset
What are the four functions of management?
- planning, communicating, motivating, helping
- planning, forecasting, accounting, supervising
- planning, organizing, directing, controlling
planning, organizing, directing, controlling
What are the Five D's of Success?
- Desire, Dollars, Details, Determination, and Diligence.
- Details, Desire, Duty, Discipline, and Determination.
- Discipline, Desire, Dependency, Details, and Determination.
- Desire, Diligence, Details, Discipline, and Determination.
Desire, Diligence, Details, Discipline, and Determination.
Which of the following would be indirect competition for a candy store?
-Walmart, which sells candy
-A hard candies boutique shop
-A candy superstore
-None of these
Walmart, which sells candy
Which of the following have marketplaces where an entrepreneur might sell goods?
- Amazon
- eBay
- Facebook
- all of the above
all of the above
How do employment agencies normally make money?
- selling advertising
- charging a fee to the employee or business when a match is made
- receiving a percentage of the hiring companies revenue
- none of the above
charging a fee to the employee or business when a match is made
A company's market share is:
- its revenue divided by the revenue of all competitors in the market
- its profit divided by the profit of all competitors in the market
- its market value divided by the market value of all competitors in the market
its revenue divided by the revenue of all competitors in the market
There are about 30.2 million small businesses in the United States and about 30,000 other larger businesses. What percent of all businesses in the U.S. are small businesses?
-30%
-99%
-99.9%
-100%
99.9%