Finance
An example of price competition is a hotel's promotion of its:
A. airport shuttle bus.
B. trained service staff.
C. special weekend room rates.
D. sauna and exercise equipment.
C (Special weekend room rates)
A bike company envisions itself as young, active, and rugged. This is its brand:
A. identity.
B. personality.
C. value.
D. promise.
B (Personality)
Which of the following are considered the owners of a corporation:
A. Lower level employees
B. Managers
C. Stockholders
D. CEOs
C (Stockholders)
The term “wage” is usually associated with a(n) __________ workforce.
A. hourly
B. aging
C. salaried
D. qualified
A (Hourly)
The ability of an individual to influence the actions of other people is known as:
A. charisma.
B. leadership.
C. authority.
D. power.
D (Power)
Tom runs a company that produces pencils. To stay in business, Tom must:
A. have a distribution plan.
B. make a profit.
C. employ a sales force.
D. order more machinery.
B (Make a profit)
The desire for an item that has monetary value is a(n) __________ want.
A. non-economic
B. unlimited
C. economic
D. intangible
C (Economic)
Why should partnerships develop a formal written agreement?
A. To meet the requirements of the law
B. To be able to sell stock
C. To prevent future problems
D. To pay less tax
C (To prevent future problems)
When ethics are part of information management:
A. piracy is more likely.
B. information is better protected.
C. personal privacy can be invaded.
D. personal files can be corrupted.
B (Information is better protected)
One of the ways that a business can increase its profits is by:
A. charging higher prices.
B. increasing worker efficiency.
C. hiring more workers.
D. extending working hours.
B (Increasing worker efficiency)
Sharon is in charge of examining and preparing financial records at her company. What category of finance careers does she likely work in?
A. Securities and investments
B. Banking services
C. Insurance
D. Accounting
D (Accounting)
Many businesses use database software programs to computerize their customer mailing lists in order to instantly:
A. prepare sales letters.
B. sort by zip code.
C. write email messages.
D. calculate monthly profit.
B (Sort by zip code)
Which of the following is an example of business managers dealing unethically with employees:
A. Offering limited part-time options
B. Disciplining a whistle-blower
C. Monitoring use of supplies
D. Downsizing the workforce
B (Disciplining a whistle-blower)
One way for a person to verify the reliability of an online article's information is by:
A. asking others for their opinions.
B. evaluating the author's writing style.
C. comparing the information with other articles about the topic.
D. gathering internal reports from the company's database.
C (Comparing the information with other articles about the topic)
Which of the following is an example of intellectual capital:
A. Office computers
B. Sales revenue
C. A company's stocks
D. An employee's product knowledge
D (An employee's product knowledge)
What usually decreases when the economy is experiencing a period of contraction?
A: Interest rates
B: Consumer spending
C: Cost of living
D: Unemployment
B (Consumer Spending)
Businesses seeking to target the teenage market often use:
A. newspapers.
B. specialty advertising.
C. direct mail.
D. broadcast media.
D (Broadcast media)
One way that a business can learn about its competitors' activities is by:
A. developing product specifications.
B. reviewing secondary data.
C. identifying communication barriers.
D. evaluating intranet efficiencies.
B (Reviewing secondary data)
When a customer is injured in an accident at a place of business, employees should try to:
A. examine the injured customer.
B. determine the severity of the injury.
C. move the customer to a comfortable area.
D. keep the incident to themselves.
B (Determine the severity of the injury)
What does an accurate income statement often help a business identify?
A. Excessive income
B. Problem vendors
C. Trouble spots
D. Potential sales
C (Trouble spots)
A business can protect its confidential computer information from unauthorized users by:
A. encrypting computer files.
B. developing internet message boards.
C. conducting annual virus scans.
D. classifying business data.
A (Encrypting computer files)
Once you have acknowledged your existing biases, you should:
A. explain to others that everyone has biases.
B. try not to dwell on them so they will not affect you.
C. monitor and challenge your biased thoughts.
D. interact with people who share your biases.
C (Monitor and challenge your biased thoughts)
Which of the following financial statements contains the company's “bottom line,” which represents net profit:
A. Income statement
B. Balance sheet
C. Statement of cash flows
D. Statement of changes in equity
A (Income statement)
Which business activity is responsible for most of the decision-making that takes place within the business?
A. Physical distribution
B. Collective bargaining
C. Management
D. Marketing
C (Management)
Which of the following must occur for supply chain management to be successful:
A. Goods and communication should flow both ways.
B. Few people should be involved in operations.
C. Producers should be in contact with final customers.
D. Emphasis should be placed on internal activities.
A (Goods and communication should flow both ways)