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Marsha wants to invest her savings in a business. However, she wants to protect all of her personal assets. Which type of business ownership would be most appropriate for Marsha?
A. Sole proprietorship
B. Franchise
C. Partnership
D. Corporation
D. Corporation
Which of the following is an internal factor that affects a business's selling policies:
A. Primary competitors
B. Financial resources
C. Customers' wants
D. Government regulations
B. Financial resources
A company trains its human resources department in how to handle emergency situations. Is this an
example of operations management?
A. Yes, because the human resources department is considered an outside customer.
B. Yes, because it involves the operational aspects of safety and security.
C. No, because the human resources department does not interact with outside customers.
D. No, because the human resources department does not use operations.
B. Yes, because it involves the operational aspects of safety and security.
Union and management officials are meeting next week to determine the terms and conditions that will
be provided to employees. This process is known as
A. striking.
B. collective bargaining.
C. picketing.
D. corporate campaigning.
B. collective bargaining.
Which of the following will foster a business's ability to adapt to changing markets:
A. Authoritarian leadership
B. Reactive management
C. Proactive management
D. Conservative leadership
C. Proactive management
Which of the following is a true statement about how technology affects the external business
environment:
A. Technology is the main way to compete with other businesses.
B. Not all businesses are affected by technology.
C. Businesses must look for updated technology all the time.
D. Certain target markets do not use technological products.
C. Businesses must look for updated technology all the time.
One way that salespeople develop and maintain positive relationships with customers is by providing
excellent
A. sales management.
B. customer service.
C. opportunities.
D. demonstrations.
B. customer service.
Individuals often gain wealth from saving money in a retirement account because
A. employers sometimes match employees' contributions.
B. retirement accounts guarantee future financial security.
C. many governments offer loan relief as a reward for saving.
D. retirement account holders can accumulate rewards points.
A. employers sometimes match employees' contributions.
Which of the following is a negative effect on businesses of government regulation:
A. The use of resources is regulated.
B. Unfair trade practices are prohibited.
C. Additional expense and inefficiency are experienced.
D. Patents, trademarks, and copyright protection are provided.
C. Additional expense and inefficiency are experienced.
Which of the following is a way in which technology has changed the way businesses operate:
A. Productivity has decreased, and costs have increased.
B. Employees are sometimes able to do their work from home.
C. Entering new and foreign markets has become more complex.
D. The nature of marketing has remained relatively the same
B. Employees are sometimes able to do their work from home.
Alicia is trying to persuade members of her work team to implement a new process. Because Alicia used
this process with her former employer, she is very knowledgeable and knows what needs to be done to
make a smooth transition. The work team is likely to go along with the change because Alicia has
A. exhibited cultural sensitivity.
B. established personal credibility.
C. demonstrated empathy.
D. coached others effectively.
B. established personal credibility.
Trends indicate a rise in the number of people who like to bring their dogs with them on vacation. To
accommodate this travel trend, there are an increasing number of
A. all-inclusive resorts.
B. residential dog parks.
C. pet-friendly hotels.
D. boutique pet stores.
C. pet-friendly hotels.
What do business owners consider when they select a business ownership structure?
a. Product versatility, financial needs, and advertising strategies
b. Personal circumstances, financial needs, and the type of business
c. Product versatility, advertising strategies, and personal circumstances
d. Personal circumstances, type of business, and product mix
b. Personal circumstances, financial needs, and the type of business
Jayson just learned his company wants to hire a new public relations assistant. He posts the job position
information on his personal social media accounts and gives contact information for the manager that will
be conducting interviews. Why is this inappropriate use of social media?
A. It could give Jayson's friends an unfair advantage over other job candidates.
B. It is unprofessional to post company employment information on a personal site.
C. Jayson is using inside knowledge to appear more important on his social sites.
D. Jayson is using his company's image to increase his number of social contacts.
B. It is unprofessional to post company employment information on a personal site.
Which of the following is a question that a business should answer about its target market while
conducting a situational analysis:
A. What are our customers buying?
B. How are our financing methods affecting our company's growth?
C. Are we operating at peak efficiency?
D. Which shipping companies are we using?
A. What are our customers buying?
Which of the following is a source of secondary data that Angela could use to obtain information about a
competitor's promotional activities:
A. Statistics in a trade publication's article about the competitor's advertising campaign
B. Focus group feedback she obtains from the competitor's former employees
C. Survey administered to competitor's customers to determine the effectiveness of its promotional
activities
D. Interview conducted with the competitor's advertising agency
A. Statistics in a trade publication's article about the competitor's advertising campaign
Businesses are being socially responsible to their customers when they.....
A. Provide safe working environments
B. Contribute to community causes
C. Offer employees job training
D. Test the safety of their products
D. Test the safety of their products
Companies spend lots of time and money developing positive organizational cultures because positive
culture is linked with
A. company failure.
B. stock market increases.
C. employee turnover.
D. improved results.
D. improved results.
Mountain View Steakhouse goes above and beyond to create an excellent dining experience for each of
its guests. The steakhouse trains its wait staff to be courteous, respectful, and attentive to customers.
Based on this information, delivering outstanding customer service is most likely a __________ of the
restaurant.
A. primary risk
B. business strategy
C. public relations plan
D. core value
D. core value
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.