Category 1
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Category 5
100
The following refers to a commitment of excellence: A) ESOP B) TQM C) GDP D) T&I
What is B) TQM
100
As the standard of living increases, what usually happens to the birth rate? A) drops B) grows C) levels off D) soars
What is A) drops ?
100
The most common form of business organization is the: A) partnership B) proprietorship C) cooperative D) corporation
What is B) proprietorship ?
100
A computer that stores data and application software for all PC workstations in a single building or building complex is called a: A) bus B) search engine C) server D) browser
What is C) server ?
100
An official document giving power to run a corporation is a: A) document certificate B) charter C) proxy D) shareholder certificate
What is B) charter ?
200
The endorsement "For deposit only, Hume Co." is known as what kind of endorsement? A) restrictive endorsement B) qualified endorsement C) full endorsement D) special endorsement
What is A) restrictive endorsement ?
200
A tax rate that increases as one's income increases is called a: A) progressive tax B) regressive tax C) proportional tax D) flat tax
What is A) progressive tax ?
200
Which financial institutions offer the widest variety of services? A) savings banks B) savings and loan associations C) trust companies D) commercial banks
What is D) commercial banks ?
200
All of these are listed on a company's balance sheet except for: A) assets B) revenue C) liabilities D) capital
What is B) revenue ?
200
The basic accounting formula is: A) assets = liabilities - capital B) capital = assets + liabilities C) assets = liabilities + capital D) liabilities = assets + capital
What is C) assets = liabilities + capital
300
Accounts receivable (your customers) appear on the balance sheet as: A) an asset B) a liability C) capital D) revenue
What is A) an asset ?
300
When an employee has an obligation to do an assigned task, the employee has been given: A) responsibility B) authority C) a goal D) a procedure
What is A) responsibility ?
300
The function being performed when a manager is carrying out plans and helping employees work effectively is: A) planning B) organizing C) implementing D) budgeting
What is C) implementing ?
300
Steel that is used to produce tools and machinery is classified as a: A) consumer good B) capital good C) market good D) production good
What is B) capital good ?
300
The management function of guiding employee actions toward achievement of a company's goals is: A) planning B) organizing C) implementing D) controlling
What is C) implementing ?
400
What statement is most accurate about demand? A) if demand drops, profits drop B) if demand increases, profits drop C) if demand drops, profits increase D) if demand drops, profits are not affected
What is A) if demand drops, profits drop ?
400
Which of the following statements is usually true about work teams? A) as quality of work increases, morale decreases B) as quality of work decreases, morale increases C) as quality of work increases, morale also increases D) as quality of work decreases, morale also decreases
What is C) as quality of work increases, morale also increases ?
400
Demand deposits are: A) accounts that permit depositors to make withdrawals at any time without penalty B) accounts in which money is deposited for a fixed period C) accounts in which deposits are invested in short-term, government-backed securities D) accounts that pool the money of many investors to deposit in stocks and bonds
What is A) accounts that permit depositors to make withdrawals at any time without penalty ?
400
Businesses that sell directly to the final consumer are known as: A) wholesalers B) producers C) retailers D) all of the responses
What is C) retailers ?
400
Increasing the number of buses after a Saturday home football game is an example of: A) matching supply and demand B) increasing production C) maintaining quality to meet customer needs D) a poor business decision
What is A) matching supply and demand ?
500
Strategic planning: A) is short-term planning B) determines how work will be done and who will do it C) provides broad goals and direction for the entire business D) is a short, specific statement of the purpose and direction of the business
What is C) provides broad goals and direction for the entire business ?
500
When a country specializes in providing products or services more efficiently than can other countries, it is practicing the theory of: A) comparative advantage B) balance of trade C) balance of surplus D) product life cycle
What is A) comparative advantage ?
500
Which of the following is not an element of the marketing mix? A) product B) price C) place D) all the the responses are part of the marketing mix
What is D) all the responses are part of the marketing mix ?
500
Companies emphasize promotion and price of their products in which stage of the product life cycle? A) introduction B) growth C) maturity D) decline
What is C) maturity ?
500
Which of the following would be the shortest channel of distribution? A) producer-wholesaler-retailer-consumer B) producer-retailer-consumer C) producer-consumer D) none of the responses
What is C) producer-consumer ?
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