Marketing
You're giving directions to a group of coworkers, and you want to be sure they do exactly what you say. You should
A. raise your voice.
B. give directions in the proper order.
C. make the directions challenging.
D. demonstrate the final steps of the directions.
B. give directions in the proper order
Jenna works long and irregular hours to accommodate her clients' schedules. What characteristic of a good entrepreneur is Jenna exhibiting?
A. Honesty
B. Flexibility
C. Initiative
D. Integrity
B. Flexibility
It is appropriate for a participant to ask questions during a staff meeting when
A. s/he needs a point clarified.
B. another participant is speaking.
C. the agenda is being distributed.
D. s/he does not agree with the speaker.
A. s/he needs a point clarified
What do business employees often need to do before they are able to write proposals?
A. Research the problem
B. Analyze personal biases
C. Contact the customer
D. Evaluate technical skills
A. Research the problem
The intention of a proposal is to solve a problem, so you must have an understanding of the problem in the first place.
Which of the following is an economic service:
A. Eyeglasses
B. Bottle of perfume
C. Baseball bat
D. Ticket to football game
D. Ticket to football game
The buyer is entitled to watching the football game from buying the ticket.
Two similar brand promises may be carried out differently depending on their
A. business environments.
B. types of packaging.
C. logos.
D. slogans.
Rita is upset with her employer because she always has to work during important holidays. This is an issue most likely associated with which type of workplace diversity?
A. Gender
B. Religion
C. Disability
D. Age
B. Religion
What is the most common reason for a client to leave or fire his/her financial advisor?
A. Location of the office
B. Poor investment return
C. High commission fees
D. Lack of communication
D. lack of communication
An important part of a market analysis involves collecting __________ information.
A. confidential
B. geographic
C. employee
D. property
B) Geographic
A business must consider geographic factors such as geographic location of customers when analyzing a market.
Determining which tasks need to be performed and when they need to be completed is an important aspect of project:
A. planning.
B. initiating.
C. executing.
D. closing.
A. Planning
A project is any type of undertaking or task that has a distinct beginning and end. A project plan is a specific course of action (plan) for accomplishing the project's objectives.
What does a business need in order to understand why a successful product is suddenly losing popularity?
A. Purchasing documents
B. Sales records
C. Secondary data
D. Marketing information
What type of market segmentation would be appropriate to use when a hotel targets people who are traveling with their pets?
A. Behavioral-benefits sought
B. Psychographic-social class
C. Demographic-gender
D. Mass market
A. Behavioral-benefits sought
With behavioral segmentation, people are grouped together on the basis of their knowledge, attitude, and use/response to a product. In this scenario, the group is travelers who have pets with them. This form of behavioral segmentation is based on the product benefits that the group wants—lodging that accepts pets.
Which of the following is most likely to affect the selling price of roses:
A. A large number of rose bushes are killed by disease.
B. Plants and small shrubs are also sold at the flower shop.
C. The flower shop also carries silk flowers.
D. A reorder shipment of roses arrives.
A. A large number of rose bushes are killed by disease
Which of the following is an example of a durable good:
A. House
B. Haircut
C. Gasoline
D. Hamburger
A. House
A durable good is an item that is intended to last a relatively long time.
Which of the following is a primary responsibility of the project manager during the execution phase of a project:
A. Developing a list of work tasks
B. Assembling a steering committee
C. Keeping the project on track
D. Acquiring project supplies and equipment
C. Keeping the project on track
During the execution phase, the project manager is responsible for ensuring that tasks are performed correctly, taking corrective action if problems occur, and keeping the project on track in terms of schedule and scope.
The following is written on the back of a check: “For deposit only; Maria Evans; Account #285655.” This is an example of a(n) __________ endorsement.
A. restrictive
B. general
C. open
D. congruent
A. Restrictive
Endorsement involves signing the back of the check, which allows the funds to be transferred from the check source to the payee. There are different types of endorsements. A restrictive endorsement limits how the check can be processed. In the example, the check can only be deposited to the endorser's (Maria) specified account. The check cannot be cashed or placed into another account. A general endorsement allows the endorser to cash the check or deposit it into the account of his/her choice—there are no restrictions placed on the funds transfer. Open and congruent endorsements are fictitious terms.
Alexa wants to create and post a basic web page for her food truck. The first step she should take is to choose
A. the font size.
B. a template.
C. the background colors.
D. a website-building platform.
D. a website-building platform
What is the primary reason that creditors analyze their customers' financial information?
A. To determine how often their customers' inventory turns over
B. To know whether they're making a good investment
C. To determine the likelihood of getting paid
D. To understand the type of accounting method customers use
C. To determine the likelihood of getting paid
By analyzing customers' financial information, they have a better idea of whether the customers pay their debts.
Businesses often obtain cash to produce and sell goods by borrowing against their
A. current liabilities.
B. accounts receivable.
C. operating expenses.
D. promissory notes.
B. Accounts receivable
Accounts receivable are all the monies owed to a business by its customers. Businesses in need of cash to continue producing and selling goods often use their accounts receivable as collateral when borrowing from financial institutions.
A business is mostly likely to review customer invoices from the previous year to
A. improve service.
B. evaluate ideas.
C. execute promotions.
D. forecast sales.
D. Forecast sales
An invoice is the formal, printed record of a sale that includes all necessary information as to the buyer, the seller, items purchased, amounts, prices, delivery date, credit or discount terms, etc. By analyzing past sales records such as invoices, a business can determine what its customers are buying, when they are buying, and how much they are buying.
One reason it is important for marketing professionals to follow ethical standards is to
A. build positive relationships with other individuals and businesses.
B. remove the risk of uncontrolled competition in the marketplace.
C. improve working conditions and financial security.
D. prevent unnecessary changes in the business environment.
A. Build positive relationships with other individuals
XRT Corporation's human resources manager sends a memo to all employees that describes some general changes that will affect their health insurance next year. This is an example of __________ communication.
A. verbal, upward
B. lateral, downward
C. mass, upward
D. formal, downward
D. formal, downward
Downward communication occurs when management sends messages to lower level employees. Formal communication involves following a specific protocol or systematic process when transmitting messages. In the example, the human resources manager communicates changes that affect all employees because it is an aspect of his/her job.
Helena's manager asked her to put together a report containing a number of different financial ratios, including the company's current ratio and rate of return on equity. To create the report, Helena should use __________ software.
A. data-mining
B. budgeting
C. financial analysis
D. field service
C. Financial Analysis
Businesses often use financial analysis applications to quickly and easily examine their financial health. The software calculates and reports many different financial ratios, compares a business's financial performance to that of competitors and industry standards, and increases the finance department's productivity.
Limited liability, indefinite length of life, ease of expansion, legal entity, and transfer of ownership are considered advantages of a:
A. sole proprietorship.
B. partnership.
C. trade union.
D. corporation.
D. Corporation
Corporations are advantageous due to the separate legal body that is created by a state charter. The charter limits individual liability, allows for permanency of existence, ease in transferring ownership, and a greater number of resources for financial growth.
Which of the following is an item that is subject to an excise tax:
A. Prescription medication
B. Carton of eggs
C. Ski boat
D. Business computer
C. Ski Boat
An excise tax is a special government tax on certain nonessential and luxury items.