Business Management and Administration
In the health care industry, the invention of new drugs and new surgical techniques are specific examples of quality
A. control.
B. improvement.
C. assurance.
D. management.
B. improvement.
If a business gains ground on its competitors, which of the following benefits is it experiencing:
A. Increased expenses
B. Increased profits
C. Increased market share
D. Increased productivity
C. Increased market share
To secure confidential financial data that are transmitted through the internet, businesses often use
A. cross-platform technology.
B. encryption techniques.
C. bots.
D. debuggers.
B. encryption techniques.
Manager-trainees at a local quick-serve restaurant spend two weeks working at each work station—the grill, the cash register, and the drive-thru. This is an example of job
A. enrichment.
B. enlargement.
C. rotation.
D. satisfaction
C. rotation.
Beth's Orchard sells fruit to Aaron's Fruit Warehouse, which then sells the fruit to a variety of local stores that sell to the final consumer. In this example, the fruit is following which channel of distribution?
A. Producer to agent to consumer
B. Producer to wholesaler to retailer to consumer
C. Producer to agent to wholesaler to consumer
D. Producer to retailer to consumer
B. Producer to wholesaler to retailer to consumer
What is typically the first step in the managerial planning process?
A. Establishing methods to evaluate progress
B. Prioritizing projects and tasks
C. Developing company goals and objectives
D. Identifying necessary tasks
C. Developing company goals and objectives
A small-business owner might register for trademark protection for the company's
A. computer software.
B. invention.
C. trade secret.
D. logo.
D. logo.
Which federal agency supervises banks and credit unions?
A. Federal Trade Commission
B. Federal Bureau of Investigation
C. Consumer Product Safety Commission
D. Consumer Financial Protection Bureau
D. Consumer Financial Protection Bureau
What type of chart would be best to illustrate room bookings for nine individual months?
A. Bar chart
B. Pie chart
C. Venn diagram
D. Scatter chart
A. Bar chart
A marketing survey that contains questions that are to be answered on a scale of 1 to 5, with 1 being the worst and 5 being the best, is an example of
A. tabulating.
B. coding.
C. sorting.
D. marking.
B. coding.
Which of the following is an example of place utility:
A. A video game is updated to add six new levels.
B. A tropical beach resort sells sunscreen and hats.
C. A nail salon offers free soft drinks to customers.
D. A department store lowers the price of winter coats.
B. A tropical beach resort sells sunscreen and hats.
Which of the following markets is characterized by a large number of buyers and sellers, none of whom has a significant influence on price:
A. Monopoly
B. Oligopoly
C. Pure competition
D. Monopolistic competition
C. Pure competition
Which of the following is an example of point-of-sale fraud:
A. Vendors taking funds from the register
B. Competitors accessing computer files
C. Customers replacing price tags
D. Employees undercharging their friends
D. Employees undercharging their friends
The Roadie Car Rental Company charges $15 a day for compact cars, $25 a day for midsize cars, and $45 a day for luxury cars. What pricing strategy is Roadie using?
A. Loss-leader
B. Bundle
C. Price lining
D. Even
C. Price lining
Melissa is eager to visit a local department store after seeing an advertisement for a great deal on new mattresses. When she gets to the store, however, the salesperson explains that the on-sale model quickly sold out, and attempts to sell her a much more expensive mattress. This is an example of
A. predatory pricing.
B. bait-and-switch advertising.
C. price discrimination.
D. price fixing.
B. bait-and-switch advertising.
Which of the following is most likely to be a breach of fiduciary duty:
A. Failing to disclose a conflict of interest
B. Obtaining permission to share confidential information
C. Acting in the best interests of the client
D. Providing investment advice to the client
A. Failing to disclose a conflict of interest
Which of the following statements regarding corporate governance is true:
A. All companies need a board of directors to perform corporate governance.
B. Small organizations do not need corporate governance.
C. Corporate governance can benefit organizations of any size.
D. Large companies are better at monitoring corporate governance.
C. Corporate governance can benefit organizations of any size.
Juan Rodriguez signed a promissory note for a loan. In this credit arrangement, Juan is the
A. depositor.
B. creditor.
C. lender.
D. borrower.
D. borrower.
A café wants to determine how well its loyalty program is working. Which of the following data will help it determine the mean use-rate of customers' loyalty cards:
A. Data that show the number of times each customer has used the card over several months
B. Data that show which month has the highest number of customers using the loyalty card
C. Data that reveal which customers use their loyalty cards the most often
D. Data that reveal which customers use their loyalty cards the least
A. Data that show the number of times each customer has used the card over several months
What might a business decide to do if the information in its sales forecast predicts a drop in demand for the business's product?
A. Reduce prices by 4%
B. Decrease advertising budget
C. Increase production
D. Recruit 50 new employees
A. Reduce prices by 4%
Chris works for a large manufacturing company and is responsible for improving the business's overall quality. After conducting thorough research, Chris decides to use a strategy called Six Sigma. What does Six Sigma involve?
A. Making corrections until mistakes virtually disappear
B. Incorporating acceptance and in-process sampling
C. Improving all business operations to meet standards and receive certification
D. Reducing the time it takes for products to be developed and distributed
A. Making corrections until mistakes virtually disappear
The owner of the Vidal Boutique verbally offers to sell Briele's original hat designs in the shop and to give her a 50% commission on the sale of the hats. Briele verbally agrees to deliver two new hats for the shop to sell each week. Briele and the boutique owner's agreement is an example of a(n) __________ contract.
A. voidable
B. implied
C. express
D. executed
C. express
You want to have $8,000 in three years to purchase a car. You can earn 4% compound interest on your investment. How much should you invest today?
A. $7,821.47
B. $7,364.10
C. $7,692.31
D. $7,111.75
D. $7,111.75
Which of the following airlines is most likely to be undervalued, based on their price-to-cash flow ratios:
Sky High Current Stock Price: $14.36 Cash Flow per Share: $5.21
Smooth Flying Current Stock Price: $22.78 Cash Flow per Share: $4.12 Soar the Sky
Current Stock Price: $18.50 Cash Flow per Share: $3.59
White Clouds Current Stock Price: $25.81 Cash Flow per Share: $6.94
A. Sky High
B. Smooth Flying
C. Soar the Sky
D. White Clouds
A. Sky High
The ZRB Company promises to ship LST Inc. 200 units of product by a certain date, and LST Inc. promises to pay ZRB $25,000 for the product within 14 days of receipt. This is an example of a(n)
A. executed agreement.
B. exempt contract.
C. bilateral contract.
D. defensible agreement
C. bilateral contract.