Business Admin Core
Which of the following illustrates how knowing your strengths and weaknesses can contribute toward professional development and career success:
A. Spending less time on tasks you find difficult
B. Avoiding new assignments
C. Developing new friendships in your neighborhood
D. Taking a leadership role on a group project
D
Taking a leadership role on a group project. Taking a leadership role on a group project illustrates how knowing your strengths and weaknesses can contribute toward professional development and career success—if you are a strong leader, you are maximizing that strength and using it to your advantage. Developing new friendships is great, but it does not relate to career success. Avoiding new assignments and spending less time on tasks you find difficult may relate to your weaknesses, but reacting in these ways will not help you improve.
Letters of inquiry should be as __________ as possible.
A. verbose
B. demanding
C. vague
D. specific
D
Specific. A letter of inquiry is typically a brief email or written letter used to request information, appointments, funding, or other assistance from letter recipients. Business people frequently write letters of inquiry to customers, vendors, and other organizations. Letters of inquiry should be as specific and concise as possible. When writing a letter of inquiry, you should provide pertinent details to the recipient but not overwhelm them with unnecessary information. Letters of inquiry should not be vague, verbose (wordy), or demanding.
Which of the following business trends affects HR management:
A. No restructuring
B. Globalization
C. Lack of new technology
D. Costs of business going down
B
Globalization. A growing trend toward globalization is one of many business trends that affects HR management activities. Costs of business are going up. Companies are often restructuring to save money. There is not a lack of new technology in the business world; new technology is constantly being developed.
Using Google Drive, Abel can seamlessly switch between working on a Google Doc, a Google Sheet, and a Google Slide within the same platform.
This highlights Google Drive's
A. obsolescence.
B. integration.
C. specialization.
D. fragmentation.
B
Integration. Google Drive allows Abel to seamlessly switch between working on a Google Doc, a Google Sheet, and a Google Slide within the same platform. This highlights Google Drive's integration capabilities; the software unifies different applications into a single, cohesive platform. Abel's use of Google Drive does not highlight fragmentation, obsolescence, or specialization.
Jonathan, a fan services employee at a professional football stadium, listened attentively to a fan's complaints regarding the service they received. When following the general steps employees can take to handle customer complaints appropriately, what should Jonathan do next?
A. Explain the plan of action to the customer and take action.
B. Thank the fan for bringing the problem to his attention.
C. Restate the complaint in his own words to show an understanding.
D. Promptly investigate the problem in the stadium's policy.
B
Thank the fan for bringing the problem to his attention. After Jonathan listens attentively to a fan's complaints, he should thank them for bringing the problem to his attention. This can help calm angry customers, as it is difficult for them to remain angry when you're letting them know how much you appreciate their information. Generally, Jonathan's next step would be to restate the complaint in his own words to show an understanding. Then, he would promptly investigate the problem in the stadium's policy. When customers express complaints, employees should be able to follow a procedure that lines up with company policies. After explaining the stadium's policy to the fan, Jonathan's final step will be to explain the plan of action to the customer and take that action.
A business wants to purchase new machinery for its production line. Which of the following pieces of financial information would be most relevant for its purchase decision:
A. How much money the company spent on machinery five years ago
B. The amount of money left in the budget for the fiscal year
C. The amount of money spent by a competing company on production line equipment
D. The current salaries of top company executives
B.
The amount of money left in the budget for the fiscal year. For financial information to be useful, it must be relevant (applicable to its users’ purposes). A company that is considering purchasing new machinery should look at its budget for the year and determine if there are enough funds to cover the equipment’s cost. This is an example of a relevant piece of information. How much money the company spent on machinery five years ago is not relevant, since it is not timely (up to date). The amount of money spent by a competing company on production line equipment is not relevant to the situation at hand. The current salaries of top company executives are not relevant, either.
One of the benefits of being adaptable is that it enables employees to
A. deal with change.
B. take initiative.
C. manage their time.
D. avoid conflict.
A
Deal with change. Adaptability is the ability to adjust to changing conditions. Changes and new situations are common in the workplace. When employees are adaptable, they are able to deal with change and even learn from new situations. This is a benefit because employees who are not adaptable may experience stress or not be able to be productive when faced with new situations. Being adaptable does not necessarily enable employees to manage their time, take initiative, or avoid conflict.
The main reason that employers offer criticism is so workers can improve their
A. ability to get along with others.
B. personal situations.
C. job performance.
D. ability to accept feedback.
C
Job performance. It is the job of the person who supervises your work to analyze your strengths and weaknesses. They are responsible for providing direction to help you in areas that need improvement. Such criticism, however, should be directed toward your role as an employee, not toward you as a person. Only when it is related to your job performance should an employer criticize your ability to accept feedback or to get along with others
Which of the following is a true statement about positive customer relations:
A. Satisfied customers are loyal customers.
B. Customer relations focus on selling activities.
C. Price is the primary factor that affects customer loyalty.
D. It requires businesses to be proactive.
D
It requires businesses to be proactive. It isn't enough to react to customers' questions, complaints, and problems as they occur. Instead, businesses must anticipate and stay ahead of these issues, which can often prevent them from happening to begin with. A customer may be satisfied with an initial purchase; however, one purchase may not result in repeat sales, which is characteristic of loyal customers. Businesses obtain loyal customers by exceeding their expectations. In many situations, customers return to a business for factors other than price— service level, product quality, etc. Although selling activities are important aspects of positive customer relations, management and employees throughout the company must embrace a customer-centric mindset. This is because customers come in contact with the business through many touch points—the company's website, invoices, promotional activities, etc.
Which of the following is a benefit of using your phone to make mobile payments when buying something from a brick-and-mortar store:
A. Standardization
B. Privacy
C. Accessibility
D. Convenience
D
Convenience. Mobile payments allow you to make purchases using your mobile device rather than a physical card. Mobile payments are convenient because you do not need to carry cards or a wallet—you can simply tap your phone and authenticate the transaction. While mobile payments are convenient, they are not necessarily accessible yet—many stores and sellers are not offering mobile payments at this time. Mobile payments are also easier to track via phones, so they are less private. Finally, mobile payments differ between phones and platforms, so the technology isn't standardized yet.
Addison wants to encourage the speaker who is giving a presentation to her class, so she nods when the speaker makes a good point, makes eye contact, and uses other forms of __________ communication.
A. nonverbal
B. written
C. negative
D. verbal
A
Nonverbal. Nonverbal communication involves the use of gestures or facial expressions, rather than the use of words. Nodding and making eye contact are ways of communicating nonverbally. Verbal communication involves the use of words. Addison is not communicating through writing. This is not negative communication because it is encouraging the speaker.
The equipment, ingredients, and employee labor at a restaurant are all
A. mass production.
B. objectives.
C. inputs.
D. productivity.
C
Inputs. All the resources used in producing goods and services are known as inputs. Objectives are goals to be reached. Productivity is the amount and value of goods and services produced from set amounts of resources. Mass production is the production of a few products in large quantities
Kristina recently started a candle company. After figuring out what kind of candles she wants to make and what they will look like, she has shifted her attention to how the candles will be produced and in what amounts. Kristina is engaging in
A. purchasing.
B. dispatching.
C. product placement.
D. production planning.
D
Production planning. Production planning involves determining how products will be produced and in what amounts. When planning production, Kristina needs to determine her candle company's specific needs for equipment, time, and human resources, as well as how many products she thinks she can sell. Issuing orders for production to start is known as dispatching. Product placement is a type of “other” media that uses products as props. Purchasing involves the buying of goods and services for a business
A local lawyer owns their own business and has two employees. What type of ownership is their business?
A. Limited liability company
B. Sole proprietorship
C. Consolidated corporation
D. Partnership
B
Sole proprietorship. A sole proprietorship is a business that is owned by one person who receives all the profits from the business and takes all the risks. A partnership is a form of business ownership in which the business is owned by two or more people. A limited liability is a hybrid form of business ownership in which members of a business experience limited liability and taxation. A consolidated corporation is not a real term, but a corporation is a form of business ownership that is owned by stockholders.
Before Julie begins a three-hour drive to her client's warehouse facility, she puts the warehouse's address into her Google Maps app on her smartphone to navigate her trip. The Google Maps app is an example of
A. telecommuting.
B. an expert system.
C. hardware.
D. satellite technology.
D
Satellite technology. Julie using the Google Maps app on her smartphone to navigate her way, is an example of satellite technology. Google Maps uses satellite technology to function as a GPS (global positioning system) on phones. Expert systems are a special kind of computer software designed to mimic the knowledge of a human expert and are often used in fields such as medicine, finance, sales, and automotive repair. Telecommuting is working from home or a remote location. Hardware refers to the physical components of a computer system (e.g., the central processing unit, hard drive, and modem).
Joanna is interested in becoming a veterinarian. To learn more, she decided to apply as a veterinarian's assistant. Unfortunately, she got rejected because of her lack of work experience. What could Joanna do to make herself a more attractive candidate next time?
A. Explain her lifelong love of animals.
B. Make up fake work experiences.
C. Volunteer at an animal shelter.
D. Offer to work late-night shifts.
C.
Volunteer at an animal shelter. Volunteering is a great way for students and other early-career professionals to gain valuable work experience. If Joanna wants to become a more attractive candidate for jobs that deal with animals, she should begin by gaining some experience with animals through volunteering at an animal shelter, zoo, or doggie daycare, for example. She should not make up fake work experiences to include in her next application—doing so would be highly unethical. Offering to work late-night shifts and explaining her lifelong love of animals may help Joanna explain her commitment to the job, but would not necessarily make up for her lack of work experience
An individual who has a good grasp of their interests, values, traits, and attitudes has acquired self
A. understanding.
B. control.
C. discipline.
D. consciousness
A
Understanding. Self-understanding is comprehending your interests, abilities, values, attitudes, and personality traits. It enables individuals to understand who they are and what they need to improve to become the people they want to be. Self-discipline is training yourself to act in ways that will further your development. Self-control is the restraint of your feelings, words, and actions. Self-consciousness is an excessive concentration on oneself.
Connor can look at situations in different ways, which helps him resolve many of the business problems that his company encounters. What characteristic of leadership is Connor exhibiting?
A. Integrity
B. Credibility
C. Authenticity
D. Creativity
D
Creativity. Effective leaders generate new ideas and approaches to make improvements and solve problems— they are exhibiting creativity. Credibility is a person's believability. Authenticity is being genuine and sincere. Integrity is adhering to an established set of personal ethics and sound moral principles
The ultimate goal of a company that redirects its marketing effort to an untapped market segment is to increase its
A. profit.
B. expenses.
C. output.
D. prices.
A
Profit. If the company can create demand in a new market segment, this will help to increase sales, which will increase profits. Increasing expenses will decrease profits. Increasing prices could decrease sales. Increasing output may be needed to meet the needs of the new market, but that is not the company's ultimate goal.
The chain of command helps employees understand
A. where they fit in the hierarchy.
B. how competitors operate.
C. why they work for the organization.
D. how the economy operates.
A
Where they fit in the hierarchy. A chain of command helps employees understand how their organization operates, as well as where they fit within the organizational structure. The chain of command does not help employees understand how the economy operates, why they work for the organization, or how competitors operate.
When you recognize your own emotions, you are demonstrating
A. self-control.
B. self-awareness.
C. social restraint.
D. social relationships.
B
Self-awareness. Emotional intelligence is the ability to recognize and manage emotions in ourselves and in others. To recognize your own emotions, you must be aware of what you are feeling at that particular time. For example, imagine that a friend says something that offends you. You may begin to frown, feel your face turning red, or feel your shoulders getting tense. When you notice these physical reactions, you know your feelings are changing at that particular time. Therefore, you are aware of your emotions. Self-control means that you know that you don't need to respond in a way that your emotions are telling you, such as saying something rude in retaliation. When you recognize and manage your own emotions, you have the capability to identify tactics that will help you respond appropriately in social situations
Personal appearance should be important to a company's employees because
A. Workers with a good appearance usually get promotions.
B. It makes them attractive to others.
C. Unattractive workers are unlikely to be hired.
D. Their image affects the company's image.
D
Their image affects the company's image. Employees of many businesses can expect a great deal of customer contact. Customers form an image of the company, and it is often based on or affected by the appearance of the firm's employees. Appearance doesn't necessarily prevent employment or ensure promotion. Being attractive to others is a personal reason for maintaining appearance
Max set a financial goal of saving $2,000 in the next year. On a whim, Max saw a new video game that he wanted, so instead of putting a portion of his paycheck in his savings account, he used that money to purchase the game. What barrier is preventing Max from reaching his goal?
A. Loss of income
B. Unexpected needs
C. Impulsive spending
D. Overuse of credit
C
Impulsive spending. Many situations can prevent individuals from reaching their financial goals. When people lose their jobs or need to get their cars fixed, their financial goals may be temporarily sidetracked. Overuse of credit cards can also affect an individual's ability to achieve their financial goals. An individual who must pay off credit card debt has less money available to save and invest. In Max's situation, impulsive spending derailed his financial goals. He saw something that he wanted right away, so he bought it without thinking about the consequences. It will likely take Max longer to reach his savings goal. A video game is considered a want, not a need, so unexpected needs did not hinder Max from reaching his goal. Max did not lose income; he simply chose to spend his earnings impulsively
One way to contribute to a positive and productive staff meeting is to
A. avoid asking questions about topics that you are unfamiliar with.
B. make sure you speak quietly when having a private conversation with a coworker.
C. only pay attention to your body language when you are speaking.
D. listen to everyone, even if you don't work directly with them.
D
Listen to everyone, even if you don't work directly with them. Giving everyone the opportunity to speak, even if you disagree with them or don't work directly with them, creates a positive environment in which everyone feels free to share their ideas. Listening to everyone and asking questions, even about topics that you are unfamiliar with, can also foster an environment in which people are open to new ideas, leading to better decision-making for the group. Body language can communicate a good deal about how you feel, even without saying a word. Staff meetings are not a time for private conversations. Ideally, if you have something to say, you should say it to the entire group—and your comments should focus on topics that are part of the meeting agenda.
Determine the assets of a business given the following information: cash = $3,000; accounts receivable = $5,500; inventory = $10,050; and fixed assets = $8,100.
A. $23,650
B. $21,150
C. $26,650
D. $16,600
C
$26,650. The assets of a business include all of the factors mentioned, so the assets would be the sum of these four figures ($3,000 + $5,500 + $10,050 + $8,100 = $26,650). Cash includes money in a cash register, cash box, or bank account. Accounts receivable are monies owed to a business by customers who buy products on credit. Inventory is all the stock that a business has on hand. Fixed assets are permanent assets used in the operation of a business, such as land, buildings, and equipment.