Marketing
To protect the integrity of the marketing information they gather, businesses should avoid:
A. working with a publisher.
B. paying for the data.
C. surveying a lot of people.
D. manipulating the research.
D. manipulating the research
An important factor in building positive customer relations is to give customers
A. benefits based on who they are.
B. the promise of satisfaction.
C. fair and equal treatment.
D. a business-oriented approach.
C. fair and equal treatment
Which of the following is a reliable source of information that a resort can use to determine its peak season:
A. Staff reviews
B. Current occupancy rate
C. Sales history
D. Standards
C. Sales history
The general economic growth of a country is supported by its:
A. level of productivity.
B. standard of living.
C. gross domestic product.
D. wealth of goods and services
A. level of productivity
When making a will, a person will choose a trusted individual to make sure that the will is carried out as intended. This individual is the
A. beneficiary.
B. executor.
C. proxy.
D. probate lawyer
B. executor
Which of the following departments in many businesses is responsible for generating product ideas:
A. Sales and marketing
B. Information technology
C. Executive management
D. Research and development
D. Research and development
A group of individuals organized by a charter and permitted to form a business that functions as a legal entity is known as a
A. licensing arrangement.
B. partnership.
C. corporation.
D. sole proprietorship.
C. corporation
A person who promotes Walt Disney theme parks is marketing a(n)
A. lifestyle.
B. cause.
C. service.
D. intermediary
C. service
What type of financial statement includes an accounting of the shareholders' equity for a company?
A. Annual report
B. Income statement
C. Cash flow statement
D. Balance sheet
D. Balance sheet
Which of the following is a legal concept that affects businesses that operate in foreign countries:
A. Sovereign immunity
B. Eminent domain
C. Absolute privilege
D. Social responsibility
A. Sovereign immunity
The assortment of merchandise that a firm sells is called its product:
A. demand.
B. mix.
C. depth.
D. classification.
B. mix
Jessica must develop an analytical report that assesses the product opportunities for 18- to 34-year-old sports enthusiasts in the greater Seattle area. What type of analytical report is Jessica writing?
A. Market analysis
B. Troubleshooting
C. Justification
D. Feasibility
A. Market analysis
Why is it important for hospitality and tourism businesses to be aware of, and react to, trends and changes in the marketplace?
A. To identify resources
B. To increase advertising
C. To hire personnel
D. To remain competitive
D. To remain competitive
The key factors involved in compounding growth are the amount of money you invest, how much your investment grows each year, and
A. your educational background and career.
B. how you earn the money that you invest.
C. how long your money is invested.
D. your mutual fund manager's education.
C. how long your money is invested
When preparing a long, complex report, it is generally a good idea to include a background statement
about the purpose of the report in the
A. body of the report.
B. letter of transmittal.
C. executive summary.
D. writer's recommendations
B. letter of transmittal.
What are salespeople expected to be able to do in order to sell goods and services to customers?
A. Control expenses
B. Arrange displays
C. Answer questions
D. Develop brochures
C. Answer questions
Maurice, who is the head of the purchasing department at his company, needs to eliminate one of his vendors. Which vendor should Maurice stop working with?
A. A vendor that had a late shipment one time after they installed new equipment
B. A vendor with prices that are consistently higher than the competition's bids
C. A vendor that lets Maurice tour its plant and even view its financial statements
D. A vendor that has been in business with the same president for many years
B. A vendor with prices that are consistently higher than the competition's bids
Hospitality organizations often make financial donations to local charities, support community interests, and participate in chamber of commerce activities in an effort to
A. increase tax abatements.
B. increase their public presence.
C. decrease expenses.
D. decrease employee discounts
B. increase their public presence
When preparing a statement of equity, what does a business deduct from its total net income to obtain its retained earnings?
A. Bad debt
B. Depreciation of assets
C. Sales tax payable
D. Dividends paid
D. Dividends paid
Which of the following is an example of consideration in a contract:
A. Promising to make a gift
B. Putting the price in writing
C. Selling an item for $500
D. Giving away an item worth $500
C. Selling an item for $500
Kendra 's financial goal is to build wealth over time by making diversified investments. Which of the following financial services providers is most likely to help Kendra achieve her goal:
A. Financial-auditing firm
B. Mortgage company
C. Investment bank
D. Asset-management firm
D. Asset-management firm
Which of the following words most accurately describes arbitration:
A. Temporary
B. Nonconsensual
C. Biased
D. Confidential
D. Confidential
A restaurant wants to predict how their customers will react to a new menu. What type of relationship should the restaurant mine from blogs?
A. Clusters
B. Classes
C. Sequential patterns
D. Associations
C. Sequential patterns
If Hannah wants to invest in the capital markets, what types of securities should she purchase?
A. Corporate bonds and treasury bills
B. Common stock and certificates of deposit
C. Treasury bills and certificates of deposit
D. Corporate bonds and preferred stock
D. Corporate bonds and preferred stock
Which of the following equations should employees know when they are verifying the accuracy of a business's balance sheet:
A. Owner's equity= Available cash - Liabilities
B. Assets= Liabilities+ Owner's Equity
C. Assets= Owner's Equity - Liabilities
D. Owner's Equity= Liabilities + Available Cash
B. Assets= Liabilities+ Owner's Equity