Communications
Rosa is writing a business letter to Alex Smith, whom she has never met. Which of the following salutations should Rosa use:
a) Dear Alex
b) To Whom It May Concern:
c) Dear Mr. Smith
d) Dear Alex Smith:
D. She doesn't know their gender, is not on first-name basis with the individual and knows the person's name.
To delay payment when buying business supplies from a web site, a purchaser is most likely to pay for the goods with a(n) __________ card.
A. ATM
B. credit
C. debit
D. store-value
C.
A credit card gives you 30 days to pay your fee
If a business reduces the price of an item from $3.75 to $3.00, demand for that item will usually
a) remain the same.
b) increase
c) fluctuate.
d) decrease.
B. Price decreases so demand increases.
Which of the following is characteristic of a reliable worker:
A. Responsibility
B. Imagination
C. Romanticism
D. Empathy
A.
An individual who is responsible is dependable, and a dependable employee will discharge all duties in a reliable fashion.
Elinor is using a word-processing program to prepare a business letter to send to the company's suppliers. She has selected a ready-to-use letter template. If she wants to change the size of the text, she should access the __________ button in the format bar.
A. font
B. paragraph
C. replace
D. view
A.
The font buttons in the format bar include the option that enables users to change the size of text. Other buttons in the font format bar enable users to bold or italicize text or change the typeface or color of the text.
During a negotiation with a big client, Kevin makes sure he understands what the client says. He repeats the client's statements and asks for clarification when he's confused. When the client speaks, Kevin doesn't try to figure out what he'll say next. Instead, he concentrates on the client's words. Kevin is practicing:
a) active listening
b) role playing
c) bargaining
d) direct attention
A. Kevin knows that it's impossible to listen when you're thinking about what to say next. He doesn't want to miss an important point, so he practices active listening.
When Jeremy develops his personal budget, he should categorize the money that he spends on food, clothing, and entertainment as:
A. fixed costs.
B. variable expenses.
C. relational outflows.
D. periodic investments.
B. A budget is an estimation of income and expenses. Variable expenses are expenses that change from month to month, such as food, clothing, and entertainment expenses.
Economics is the study of how to:
a) reduce the public debt.
b) increase the value of products.
c) expand the role of government.
d) meet unlimited human wants.
D.
Meet unlimited human wants. Economics is the study of how people satisfy unlimited, competing, economic wants with limited resources.
When Kirby takes notes, he writes the subject of the material in a circle in the middle of his paper. Then, he writes the main ideas from the material on lines around the circle. What form of note-taking is Kirby using?
a) Outlining
b) The Cornell method
c) Mapping
d) Charting
C. Mapping is a visual method of note-taking that involves writing the main topic in a circle and writing supporting ideas on lines around the circle.
Which of the following is a basic computer operating system that a business might use:
a) Adobe
b) Excel
c) Oracle
d) Windows
D. Microsoft Windows is one of the most popular operating systems.
Jerald works for a cancer charity, and he's in charge of writing a letter asking for donations. He's determined his objective (raising money), and he has a list of potential donors to whom to send letters. He wants to grab the reader's attention in the first line of his letter, so he should:
a) tell a joke to break the ice
b) ask the reader a provocative question
c) say something general so it applies to more people
d) explain the history of the charity
B. When writing a persuasive letter, you need to grab the audience's attention right away. Asking a question will make the reader want to keep reading to find the answer
Which of the following is a type of financial statement that accountants prepare for a business:
A. Credit card statement
B. Sales invoice
C. Balance sheet
D. Bank-deposit slip
C. A balance sheet is one type of financial statement that accountants prepare for a business using the financial information they gather, record, and organize. It is a snapshot of the business's assets and liabilities
Which component on a purchase order indicates the total price for all quantities of a single item:
a) unit price
b) amount due
c) extension
d) product code
B. Amount due refers to the total amount you need to pay when you make a purchase
Who should take continuing education classes to keep up with changes in tax regulations?
a) Martha Winters, Certified Public Accountant
b) Paul Stanton, Corporate Security Advisor
c) Gwen Colbert, Accounts Receivable Supervisor
d) Carlos Ramirez, Product Acquisition Manager
A.
Because certified public accountants work with financial data, they need to keep up with changes in regulations, including taxes
What software program would a local car dealer use to organize and sort customer information in order to mail postcards to customers to remind them when it is time for routine maintenance?
a) Desktop publishing
b) Word processing
c) Spreadsheet
d) Database
D.
Database software allows companies to collect, store, and organize customer information. This information can be used to maintain, analyze, and combine customer information and to send postcards to specific customers.
Shinju has been in her position for a while, and she'd like to get a promotion. The last time Shinju talked to her boss about it, her boss said that Shinju will need more training before he'd consider promoting her. What should Shinju do to get ahead?
a) Talk to coworkers and tell them she wants a promotion
b) Wait for her boss to assign her more training
c) Take a class to learn new skills in her industry
d) Defend herself and tell her boss she has enough training already
C. Taking a class will show Shinju's initiative and eagerness to advance in her field.
Which of the following is an advantage of investing in bonds:
a) You can access your money any time.
b) They are very low risk.
c) They are insured by the FDIC.
d)They offer extremely high rates of return.
They are very low risk. Bonds are very low risk investments. As a matter of fact, they are often referred to as "guaranteed money." However, you can't access your money at any time, and bonds are not FDIC- insured. Bonds are lending investments with little risk; therefore, they don't offer extremely high rates of return.
A market that has a large number of buyers and sellers of identical products characterizes
a) monopolistic competition.
b) an oligopoly.
c) a monopoly.
d) perfect competition.
D. Perfect competition seldom exists, but when it does, no one seller or buyer can influence the price. Monopolistic competition has many businesses selling similar products. Oligopoly has a few large companies that control the market. There is no competition in a monopoly because there is only one seller.
What is one of the purposes of having business policies?
a) To make sure the business's actions are consistent
b) To encourage customers to make frequent exchanges
c) To ensure that the business makes a profit
d) To allow employees to make decisions regarding customers
A.
Business policies keep the day-to-day operations running smoothly and consistently.
Which of the following do many businesses include on their websites in order to obtain feedback from customers?
a) Computer programming code
b) Portable document format
c) Electronic file attachment
d) Email inquiry field
D.
Many businesses provide a feedback option on their websites that enables customers to email the business concerning problems or to ask questions. The email inquiry field is an effective method of providing customer service as long as the business responds in an appropriate amount of time.
Although Jillian enjoys her job, she's having some trouble getting along with certain coworkers. She wants to e-mail her boss about the problem, but she's afraid her boss may misinterpret the e-mail or see her as a negative person. Jillian wants to use proper e-mail etiquette, so she should:
a) use emoticons (like smiley faces) in her e-mail so she won't seem like she's complaining.
b) talk to her boss in person instead of sending an e-mail.
c) write a lengthy e-mail to make sure her boss won't misunderstand her.
d) be informal and make jokes so she won't appear too negative.
B. It could be a matter of misunderstanding so Jillian should discuss the matter with her boss in person.
Which of the following is an important type of financial record that individuals should maintain in order to manage their finances:
a) Cashier's check
b) Insurance policy
c) Product warranty
d) Travel report
B. Individuals maintain a variety of financial records, and one of these is an insurance policy. In many cases, individuals have several types of insurance policies, such as automobile, homeowner's, health, life, etc. These policies pay claims that have cash value.
Which of the following statements about producers in our society is false:
a) Producers are the foundations for all other businesses.
b) Manufacturers are considered to be producers.
c) Some producers provide goods in their raw state.
d) There are two basic categories of producers.
D. There are three basic categories of producers: raw-goods producers, manufacturers, and builders.
True or false: Companies without an HR department do not participate in HR management activities.
a) False; in companies without HR departments, other managers and supervisors participate in HR management activities.
b) True; smaller companies have no need for HR management.
c) True; only HR managers can complete these activities.
d) False; in companies without HR departments, all employees participate in HR management activities.
A. Human resources management is a function of business, as well as a department. In other words, bigger companies may have a great number of employees dedicated solely to managing human resources, but in small businesses without an official “HR department,” this important function still remains.
Which of the following is a true statement about a management information system (MIS):
a) It does not assist with a business's information management program.
b) It is the same thing as an information management program.
c) It may be one part of a business's overall information management program.
d) It includes people, processes, and practices.
C. It may be one part of a business's overall information management program. A management information system (MIS) is a form of technology that assists with a business's information management needs. An MIS is just hardware and software, but an overall information management program involves people, processes, and practices.