Business Management & Administration
When preparing for a speech, it's most important to
A. practice.
B. design visual aids.
C. plan your appearance.
D. write note cards.
A. Practice
What might happen if a startup hires its first employee too early?
A. There won't be any interested candidates.
B. The employee will be overworked.
C. The employer will be less stressed.
D. The company won't be able to pay the employee.
D. The company won't be able to pay the employee
Employee wages, advertising, insurance, and utilities all fall under which element of a company's income statement?
A. Revenue
B. Operating expenses
C. Gross profit
D. Net income/profit
B. Operating expenses
Vinny was pleased with his hotel room because it looked exactly like the pictures he saw online. This example best represents which factor that leads to positive customer experiences?
A. Honesty
B. Respect
C. Efficiency
D. Empathy
A. Honesty
When posting on your company's social media page, it is important to
A. make aggressive attacks on your competitors' products.
B. say whatever is on your mind at the current moment.
C. avoid posting any content that is new or interesting.
D. ensure that your message aligns with company values.
D. ensure that your message aligns with company values.
Which of the following statements regarding customer data is true:
A. Companies should collect more customer information than necessary.
B. Customer data do not have to be encrypted or password-protected.
C. The fewer people that can access customer data, the better.
D. A company should never destroy customer data after they have been used.
C. The fewer people that can access customer data, the better.
Which part of the business plan helps entrepreneurs determine who will buy their products?
A. Financial projections
B. Mission statement
C. Company description
D. Market analysis
D. Market analysis
Monthly cash flow analysis, ratio analysis, and external data collection are all activities involved with which business function?
A. Procurement and logistics
B. Financial-information management
C. Human resource management
D. Technology and process development
B. Financial-information management
The importance of customer service in the hospitality and tourism industry has grown due to
A. fewer consumer choices.
B. lower prices.
C. less frequent travel.
D. technology.
D. Technology
Catalogs, telemarketing, and email are examples of
A. guerrilla marketing.
B. sponsorship.
C. product placement.
D. direct marketing.
D. direct marketing.
Kate is a consultant who specializes in helping companies discover and implement positive solutions to problems in their business processes. Kate's work could best be described as
A. business analysis.
B. public relations.
C. marketing research.
D. financial counseling.
A. Business analysis.
When planning a new venture, an entrepreneur can use __________ to clarify his/her goals and visions.
A. a mission statement
B. financial forecasting
C. a SWOT analysis
D. competitive analysis
A. a mission statement
Morrissa sold her vacation home and made a profit of $50,000. What type of tax will Morrissa most likely have to pay?
A. Gift
B. Estate
C. Luxury
D. Capital gains
D. Capital gains
Consumers who book luxury rooms because they value the extra amenities are typically basing their buying decisions on
A. price.
B. promotion.
C. place.
D. profit.
A. Price
Which of the following is an example of a brand mark:
A. The name "Ford Motors"
B. The phrase “Kellogg's Frosted Flakes”
C. Nike's phrase “Just do it.”
D. Apple's apple symbol
D. Apple's apple symbol
A new technology startup is likely to choose a __________ organizational structure.
A. narrow
B. formalized
C. flexible
D. wide
C. Flexible
What type of competitors are two different athletic shoe manufacturers?
A. Indirect
B. Monopolies
C. Direct
D. Oligopolies
C. Direct
Which of the following is an indicator of a pyramid scheme:
A. Commission payment structure
B. Highly priced, cheaply made products
C. Emphasis on recruiting new participants
D. Access to confidential information
C. Emphasis on recruiting new participants
How does offering personalized services usually impact a hotel's data management needs?
A. The hotel spends more time monitoring its online reputation.
B. Personal information needs to be kept less secure.
C. More data need to be captured and managed.
D. The hotel has to use a cloud-based management system.
C. More data need to be captured and managed.
A CRM system can help salespeople
A. improve their personal selling.
B. manage their personal budget.
C. monitor their company's stock.
D. keep track of their customers.
D. keep track of their customers.
Modern Muse Clothing has set a goal to design and produce 15 different styles of jeans this season. What type of organizational goal has the company set for itself?
A. Strategic
B. Product
C. Ideological
D. Economic
B. Product
What type of funding carries the most financial risk for a startup company that has an unsuccessful first launch of the business?
A. Crowdfunding
B. Venture capital funding
C. Business loan from a bank
D. Angel investor
A. Crowdfunding
Andre decides how much each of his company's departments should spend on travel. Which function of managerial accounting is Andre performing?
A. Variance analysis
B. Capital budgeting
C. Standard costing
D. Relevant costing
C. Standard costing
Sunset Airlines experienced a rare mechanical malfunction with one of its plane's engines and needs to purchase a new part. What type of purchase order would Sunset Airlines likely use?
A. Standard purchase order
B. Planned purchase order
C. Blanket purchase order
D. Contract purchase order
A. Standard purchase order
Which of the following is an example of a pull sales promotion strategy:
A. A slotting allowance
B. A booth at a trade show
C. A sales incentive program
D. A buy one, get one free deal
D. A buy one, get one free deal