Types of Businesses
According to the segment, how are businesses classified?
A. Number of employees
B. Work activities the business performs
C. Age of the company
D. Profit level of the business
B. Work activities the business performs
Which of the following is NOT a step of the employment process in the Human Resources department according to the segment?
A. Assess employment needs
B. Recruit potential employees
C. Select employee who fulfills goals
D. Negotiate salary and benefits of new hires
D. Negotiate salary and benefits of new hires
According to the segment, why is the Finance and Accounting department important to a business?
A. Controls hiring decisions
B. Businesses cannot exist without cash flow
C. Focuses on the worth of the company
D. Controls the Human Resources department
B. Businesses cannot exist without cash flow
Which of the following is NOT a component of the marketing mix?
A. Product
B. Price
C. Promotion
D. Perception
D. Perception
Which type of business produces processed goods by changing raw goods into a more finished form?
A. Intermediaries
B. Service firms
C. Processors
D. Producers
C. Processors
Which of the following is an example of a producer?
A. Cotton mill
B. Juice factory
C. Mine
D. Landscape company
C. Mine
Which of the following is NOT a role the Human Resources department plays when helping orient employees?
A. Introducing co-workers
B. Helping fill out paperwork
C. Assisting employees in their adjustment phase
D. Analyzing new employee morale
D. Analyzing new employee morale
Items of value owned by a business are known as which of the following?
A. Assets
B. Liabilities
C. Owner’s equity
D. Bonds
A. Assets
Which of the following are the activities used to persuade consumers they need the product?
A. Product
B. Price
C. Promotion
D. Perception
C. Promotion
Which of the following is an example of a non-profit organization?
A. Beauty salon
B. Salvation Army®
C. ITT Technical Institute
D. Amazon®
B. Salvation Army®
Which of the following is NOT an example of a processor?
A. Cotton mill
B. Automobile factory
C. Oil refinery
D. Textile mill
B. Automobile factory
Evaluating employee performance helps with all of the following EXCEPT which of the following?
A. Transfers
B. Sick leave
C. Layoffs
D. Promotions
B. Sick leave
Which of the following are the debts or obligations of a business?
A. Assets
B. Liabilities
C. Owner’s equity
D. Bonds
B. Liabilities
Which of the following is NOT a stage of the product life cycle?
A. Introduction
B. Growth
C. Evaluation
D. Maturity
C. Evaluation
The employment process is carried out by which department?
A. Marketing
B. Distribution
C. Management
D. Human resources
D. Human resources
Which of the following is an example of a service firm?
A. Cotton mill
B. Juice factory
C. Mine
D. Landscape company
D. Landscape company
Which of the following is NOT a level of Maslow’s hierarchy of needs?
A. Self-actualization
B. Self-esteem
C. Personal interest
D. Safety
C. Personal interest
Which of the following is NOT a responsibility of the Finance department?
A. Managing the use of company funds
B. Obtaining needed funds
C. Creating a financial plan
D. Establishing external relations
D. Establishing external relations
Which of the following correctly lists the needs of consumers which should be met?
A. Physical, social, psychological
B. Physical, psychological, economic
C. External, internal, social
D. External, internal, psychological
A. Physical, social, psychological
Intrinsic motivation occurs internally and includes enjoyment and accomplishment.
A. True
B. False
A. True
Which of the following is NOT a business department mentioned in the segment?
A. Human resources
B. Finance
C. Marketing
D. External relations
D. External relations
Which of the following is NOT a function of management?
A. Analyzing
B. Directing
C. Organizing
D. Planning
A. Analyzing
Which of the following is NOT a source of funding?
A. Borrowing funds
B. Selling stocks
C. Investors
D. Decreasing owner contributions
D. Decreasing owner contributions
Which of the following is NOT a role of production and distribution in a company?
A. Facilities
B. Processing
C. Marketing
D. People
C. Marketing
Group training gives employees hands-on practice with supervision.
A. True
B. False
B. False