Principles
In addition to purchasing, Sherita's job responsibilities include developing partnerships and alliances with suppliers, watching for business threats and opportunities, and looking for ways to improve processes. Sherita is involved in _______
A. Sales
B. Clerical Work
C. Strategic planning
D. Accounting
C. Strategic planning
Which of the following is a production activity?
A. Receiving
B. Advertising
C. Scheduling
D. Marketing
C. Scheduling
One way that advances in technology help businesses keep existing products on the market and extend their life cycle is by
A. minimizing inventory.
B. improving performance.
C. attracting attention.
D. demonstrating creativity
B. improving performance.
What government agency cuts the US benchmark loan interest rate?
The Federal Reserve
Which of these lodging services would most likely be automated using software:
A. Registration
B. Concierge
C. Room setup
D. Sales forecasting
A. Registration
Determine which function of marketing addresses the following question: Is the product packaged appropriately?
A. Product/Service management
B. Selling
C. Marketing-information management
D. Pricing
A. Product/Service management
To understand how team members perform their project tasks, project managers should possess __________ skills.
A. Negotiation
B. Interpersonal
C. Persuasive
D. Technical
D. Technical
Electronic billing, purchase order verification, bar-code technology, and image processing are examples of
A. functions of the finance department.
B. horizontal channel integration.
C. integrated data between channel members.
D. vertical channel integration.
C. integrated data between channel members.
What is a beneficiary?
a person who derives advantage from something, especially a trust, will, or life insurance policy.
Which of the following is a common source of complaints about personnel:
A. Creation of policies
B. Rudeness
C. Hidden costs
D. Faulty design
B. Rudeness
1) A business advertises, "Prove to us that you can buy it cheaper somewhere else, and we'll meet the lower price." This is an example of which of the following competitive techniques:
A. Price fixing
B. Discounts
C. Price matching
D. Rebates
C. Price matching
A business can prevent its trade secrets from further disclosure to third parties by asking the court to issue a(n):
A. Injunction
B. Warrant
C. Appeal
D. Contract
A. Injunction (forbids a business or perform from performing certain activities)
Companies spend lots of time and money developing positive organizational cultures because the positive culture is linked with
A. company failure.
B. stock market increases.
C. employee turnover.
D. improved results.
D. improved results.
What is the difference between accounts receivable and accounts payable? Explain :)
Accounts receivable is money owed to a company by its debtors while payable is money a company owes to its creditors.
Which of the following is a characteristic of product extensions in the hospitality and tourism industry:
A. A necessary part of the hospitality and tourism experience
B. Related to the original product
C. Expensive addition to a trip
D. Sold only to generate income
B. Related to the original product
2) Workers who enjoy close supervision and specific instructions will feel most comfortable working under a(n) __________ leader.
A. republican
B. authoritarian
C. democratic
D. laissez-faire
B. authoritarian
Which of the following is an example of an activity associated with the directing function of management?
A. A manager coordinates the tasks of a cross-functional work team
B. Pedro interviews several applicants for an open position in the finance department
C. A manager disciplines an employee for inappropriate behavior in the workplace
D. Carmen recommends changes to increase outputs in the production line
A. A manager disciplines an employee for inappropriate behavior in the workplace
A department store sells clothing from brands like Levi's, but it also sells its own private brands of clothing, also known as __________ brands.
A. business
B. corporate
C. value
D. distributor
D. distributor
Distribution examines how income is divided between
A. consumers and resource owners.
B. producers and resource owners.
C. consumers and producers.
D. producers and economizers.
B. producers and resource owners.
What data-mining technique uses "if-then" criteria to classify objects in a database?
A. Neural networking
B. Histogram
C. Rule induction
D. Quantitative reasoning
C. Rule induction
3) A business advertised new-product financing with a 10% down payment and a low-interest rate with monthly payments spread over four years. What type of loan was the business offering?
A. Single payment loan
B. Installment loan
C. Cash payment
D. Revolving credit loan
B. Installment loan
The Anderson Convenience Store charged a customer with trying to cash a bad check and using an expired credit card. The customer was engaged in what type of fraud?
A. Short Change
B. Price Ticket Switching
C. Point of Sale
D. Internal Theft
C. Point-of-Sale (when someone attempts to cheat money out of a business at the time of purchase)
Integrity is one of the most important traits for ethical leaders to develop because of it
A. is the foundation for other ethical principles.
B. builds consistency in difficult situations.
C. ensures they will avoid ethical dilemmas.
D. challenges leaders to be more confident.
A. is the foundation for other ethical principles.
What is a financial product that pays out a fixed stream of payments to an individual? It is often a steady income source for senior citizens and unrelated to stocks.
A. Stock
B. Annuities
C. Bond
D. Mutual Fund
B. Annuities
Which of the following is a true statement regarding operating costs:
A. Businesses spend more on operating costs than production costs.
B. Purchasing a piece of equipment is an operating cost.
C. They are usually divided into selling expenses and manufacturing expenses.
D. Some may be considered either fixed or variable.
D. Some may be considered either fixed or variable.