Business Law & Management
Which of the following is considered a "stepping stone" toward achieving a specific objective
A. Unlimited resources
B. A want
C. Long-term goal
D. Subgoal
Subgoal
Which of the following is a benefit of using a debit card instead of a credit card:
A. Expenses can be paid at a later date.
B. You can build your financial rating.
C. There is no risk of going into debt.
D. You can spend more money at a time.
There is no risk of going into debt
What is the first step in completing a job application?
A. Identifying questions that do not apply to the applicant
B. Completing the form's work history section
C. Listing personal references
D. Reading the entire form to follow directions
Reading the entire form to follow directions
A person with a disability is entitled to service in a restaurant based on the Americans with Disabilities Act (ADA) which focuses on
A. age discrimination
B. affirmative action
C. public accommodations and employment
D. immigration and document verification
public accommodations and employment
What is an example of an unethical pricing practice?
A. A business prices a new product line to reflect high quality and status.
B. A firm sets a business objective to increase its profit margins over the next 5 years.
C. A business increases its prices when the cost of the materials to make the products increases.
D. A company prices its products low in an attempt to drive its competitors out of business
A business increases its prices when the cost of the materials to make the products increases.
Before writing a proposal to solve a business problem, it is important to
A. contact a research firm.
B. read the mission statement.
C. narrow the topic.
D. prepare a summary.
Narrow the topic
Why is it important to read and reconcile bank statements?
A. To calculate interest
B. To balance an account
C. To withdraw excess money
D. To make a deposit
To balance an account
To help meet a sudden increase in demand, businesses should make sure to have __________ inventory.
A. transit
B. perpetual
C. just-in-time
D. buffer
Buffer
The best way to reduce the disagreements that often occur when two people go into business together is to develop a(n)
A. state charter
B. operating permit
C. partnership agreement
D. DBA document
Partnership agreement
When a product has been distributed throughout a population and the only chance for increased sales is population growth or a shift in market share, the product has reached ____________
A. penetration pricing.
B. price skimming.
C. market saturation.
D. Population Fixation
Market Saturation
Which of the following is an unethical distribution practice that involves forcing a business to carry another business's products:
A. Deception
B. Outsourcing
C. Bundling
D. Coercion
Coercion
You win $35,000 in the lottery. If you invest your winnings in a savings account that earns 3.5% simple interest per year, how much money will you have a year from now?
A. $35,035
B. $33,775
C. $36,225
D. $38,500
$36,225
What is the best way for an employee to obtain product specifications for a piece of office equipment?
A. Contact the vendor directly
B. Develop a cost/benefit analysis
C. Submit a quotation to management
D. Write a product review
Contact the vendor directly
When assessing a venture opportunity, an entrepreneur often considers how the venture can differentiate itself from similar businesses, which is determining the
A. economic limitations
B. return on investment
C. competitive advantage
D. growth pattern
Competitive advantage
What is an advantage to businesses that use product-bundling strategies?
A. Businesses usually reduce their suggestion selling and advertising efforts.
B. Businesses tend to spend less time training their employees about the products.
C. It usually reduces the need for the business to follow up with customers.
D. It often reduces customers' comparison-shopping activities.
It often reduces customers' comparison-shopping activities.
Giving a group of employees the authority to work together to find a solution to a particular problem is an example of
A. office restructuring.
B. creative thinking.
C. project staffing.
D. team building.
Team building
Sammy received one share of stock in Nike, Inc. as a gift. He wondered how much of the company's profit went to his single share, so he divided net income by the number of outstanding shares of common stock. What common ratio did Sammy calculate?
A. Return on equity
B. Gross profit margin
C. Earnings per share
D. Price-earnings
Earnings per share
What type of information concerning policies and procedures do employees often extract from an internal business report?
A. Customer profiles
B. Industry research data
C. New personnel regulations
D. Former local competitors
New personnel regulations
What are important considerations in establishing hardware/software specifications for a business?
A. Strategic planning, training, upgrades, and cost
B. User needs, mobility, delivery terms, and technical support
C. Security, social media policies, performance, and licensing
D. Capabilities, compatibility, reliability, and cost
Capabilities, compatibility, reliability, and cost
How do government regulations that protect consumers most often impact businesses?
A. They allow businesses to avoid correcting problems.
B. They can increase a business's expenses.
C. Product development can be less expensive.
D. Businesses are able to carry less insurance.
They can increase a business's expenses.
500: Which of the following should managers do in order to assure that a staff meeting is successful:
A. Let only a few people contribute
B. Encourage everyone to participate
C. Allow someone to monopolize the meeting
D. Keep the discussion from resolving issues
Encourage everyone to participate
Determine personal net worth if you own and owe the following:
Own:
Car $ 8,000
Engagement ring $ 3,500
Investments $45,000
Savings account $12,500
Grandmother's antique china $ 2,500
Owe:
Student loan $35,000
Monthly apartment rental $ 600
Credit card balance $ 2,750
Utilities $ 250
$33,750
A business borrowed $50,000 at 6% interest to purchase inventory last year and $50,000 at 7.5% interest to purchase inventory this year. How much more interest did the business need to pay to purchase inventory this year than it paid last year? (USE YOUR CALCULATOR)
A. $750
B. $600
C. $500
D. $550
$750
A business has $20,000 in cash to pay toward the purchase of a $175,000 warehouse. If a bank will loan 80% of the purchase price, what additional amount of financing does the business need to obtain? (MAY NEED CALCULATOR)
A. $17,750
B. $15,000
C. $20,500
D. $26,250
$15,000
When engaging in the Six Thinking Hats idea-generation technique, the red hat focuses on the…
A. emotions, feelings, and intuition.
B. negative aspects of the situation.
C. creation of new ideas.
D. available facts and data.
emotions, feelings, and intuition.