Business Management & Administration
Although gift-giving practices often help establish positive Chinese business relationships, foreigners should avoid giving Chinese businesspeople expensive gifts, which others may perceive as
A. insincere.
B. bribery.
C. industrious.
D. collaboration.
What is B?
bribery
Operating expenses are defined as the
A. start-up expenses of a business.
B. salaries paid to managers.
C. cost of goods sold.
D. costs of running a business.
What is D?
costs of running a business
What is a type of informal communication that coworkers often use to communicate with each other?
A. Network
B. Feedback
C. Grapevine
D. Structured
What is C?
Grapevine.
What can a cruise ship provide its customers to improve its service image and give itself a competitive advantage?
A. Personalized activity schedules
B. Room service
C. Standard products
D. Open-door policy
What is A?
Personalized activity schedules
An example of a tax that raises the price of a product to reduce its popularity is
A. an excise tax on tobacco.
B. federal payroll tax on salary.
C. state income tax.
D. property tax.
What is A?
an excise tax on tobacco.
The Simpson Company is negotiating discount terms with Cornwell Manufacturing, a prospective vendor. During the negotiation, Cornwell states that it is willing to offer Simpson a six-percent discount on orders over $50,000. Although Simpson would rather have an eight- percent discount, it agrees to the terms, hoping to obtain something it wants later in the negotiation. This is an example of a
A. position.
B. withdrawal.
C. plea.
D. concession.
What is D?
concession
Marcy is ready to buy a new computer, and she has saved up enough money to buy the model she wants. Which of the following describes the quantity that Marcy is prepared to buy:
A. Supply
B. Elasticity
C. Demand
D. Market price
What is C?
Demand.
. Adian is conducting online research for a marketing project at work. What web-based tool will help Adian save and organize the websites that contain the relevant information he needs for his final report?
A. Personal intranet connection
B. Notebook with color-coded dividers
C. Word-processing memo template
D. Browser bookmarking applications
What is D?
Browser bookmarking applications
When handling cleaning chemicals, hotel housekeeping attendants should
A. complete a purchase order when inventory is low.
B. avoid direct skin contact and wear disposable gloves.
C. avoid using eye goggles or ventilation masks.
D. keep a log of ingredients found in the cleaning materials.
What is B?
avoid direct skin contact and wear disposable gloves.
What strategy is an effective way to build adequate financial resources for a family to pay for college tuition?
A. Opening a 529 College Savings Plan in the first year of a child’s birth.
B. Taking a greater risk by purchasing speculative stocks until a child is age 16.
C. Reducing taxes by investing money in mutual funds.
D. Increasing contributions to Social Security.
What is A?
Opening a 529 College Savings Plan in the first year of a child’s birth.
Which of the following situations is an example of employees coordinating their work efforts:
A. Sarah calls a vendor to verify the delivery date of an order, while Shelley sells products.
B. Bob unpacks a shipment and places the items on shelves in the warehouse.
C. Gavin orders inventory based on the forecast that Madelyn has prepared for him.
D. Ed reviews his monthly financial report to verify his calculations.
What is C?
Gavin orders inventory based on the forecast that Madelyn has prepared for him.
What do business owners consider when they select a business ownership structure?
A. Product versatility, advertising strategies, and personal circumstances
B. Product versatility, financial needs, and advertising strategies
C. Personal circumstances, type of business, and product mix
D. Personal circumstances, financial needs, and the type of business
What is D?
Personal circumstances, financial needs, and the type of business
According to most analysts, the three economic indicators that stock market investors and traders should pay the closest attention to are
A. inflation, unemployment, and bonds rates.
B. interest rates, overhead expenses, and inflation.
C. Gross Domestic Product, overhead expenses, and unemployment.
D. Gross Domestic Product, unemployment, and inflation.
What is D?
Gross Domestic Product, unemployment, and inflation.
A resort is conducting telephone interviews with former guests to determine how it can improve its services. How can the resort minimize interviewer bias and procedural errors during the interview process?
A. Ask only close-ended questions
B. Provide the interviewers with training
C. Allow interviewers to develop their own sets of questions
D. Limit the length of the interview to five minutes
What is B?
Provide the interviewers with training
Which of the following is an example of a business appropriately using its budget to control costs:
A. The Bingham Company hired more employees after the value of its stock dropped.
B. TQR, Inc. noted that its sales were 6% higher than expected during the first quarter.
C. When sales decreased, the Martin Company reduced its trade show efforts by 5%.
D. VMX Manufacturing purchased additional equipment to increase its production levels.
What is C?
When sales decreased, the Martin Company reduced its trade show efforts by 5%.
To control the business's level of risk, management needs to clearly communicate the business's code of ethics to employees because
A. businesses usually do not address ethical issues in their employee handbooks.
B. the government requires all businesses to provide in-depth ethics training programs.
C. the employees' personal ethics may differ from the business's ethics.
D. business policies tend to change in terms of what is considered ethical behavior.
What is C?
the employees' personal ethics may differ from the business's ethics
Thomas does not know the answer to Mr. O'Malley's question about a complex product. Which of the following is the best way for Thomas to respond to Mr. O'Malley's inquiry:
A. "I'll need to read the product manual before I can answer your question, Mr. O'Malley. I'll get back to you next week."
B. "Let me give you the manufacturer's website address. The information is probably available on the product-specifications page."
C. "I'm not sure, Mr. O'Malley. My coworker, Reggie, knows a lot about this model. If you can wait a moment, I will have him speak with you."
D. "I don't know. We do have a customer who just purchased this model. I'll get Mrs. Thompson's telephone number for you."
What is C?
"I'm not sure, Mr. O'Malley. My coworker, Reggie, knows a lot about this model. If you can wait a moment, I will have him speak with you.
A small restaurant wants to expand, but first it needs to raise funds. John wants to raise capital through debt financing, but his partner, Damien, isn't sure that's a good idea. What is one downside of debt financing that Damien could cite to prove his point to John?
A. They will need to sell stock in their business.
B. Shareholders will own part of their business.
C. They will have to pay interest on the borrowed amount.
D. They will be required to repay the money immediately.
What is C?
They will have to pay interest on the borrowed amount.
A current trend is social networking sites. How are many businesses in the hospitality and tourism industry using their social networking sites?
A. To notify travelers of flight cancellations
B. To match travelers with others who have similar interests
C. To book travelers' upcoming trips
D. To provide a way for travelers to share their experiences
What is D?
To provide a way for travelers to share their experiences
Which of the following financing strategies is considered a form of bootstrapping that an entrepreneur might use to help with the cost of starting a business:
A. Using personal savings to pay for startup costs
B. Taking out a personal loan to initially fund the business
C. Bartering to exchange services with suppliers
D. Forming a partnership with a family member
What is C?
Bartering to exchange services with suppliers
Is it a legitimate response to a customer's inquiry for an employee to say that s/he doesn't know the answer to a customer's question?
A. Yes, if the employee advises the customer that s/he will get the information and will respond to the customer as soon as possible.
B. Yes, if the employee doesn't know the answer to the customer's question, then the customer will find another employee to provide the information.
C. No. Customers do not respect employees who cannot answer simple questions, so it is better to provide them with an educated guess.
D. No. It is the employee's responsibility to learn every aspect of the business and to be able to answer every question.
What is A?
Yes, if the employee advises the customer that s/he will get the information and will respond to the customer as soon as possible.
A manufacturer that decides to sell directly to large retailers rather than through wholesalers might create __________ conflict within its distribution channel.
A. formal
B. horizontal
C. vertical
D. conventional
What is C?
vertical
A business's balance sheet lists $3,800 in cash, $15,125 in accounts payable, $2,775 in taxes, $10,350 in machinery and equipment, and $6,280 in salaries. Calculate the business's total liabilities.
A. $27,030
B. $18,470
C. $15,225
D. $24,180
What is D?
$24,180
To generate excitement about its newly remodeled facilities, Wilmer's Hotel plans to send advertising messages to past guests via their cell phones. Each message will contain a brief video showcasing new features and services that the hotel offers. Which type of mobile messaging service should Wilmer's use?
A. Digitized messaging services (DMS)
B. Short messaging services (SMS)
C. Complex messaging services (CMS)
D. Multimedia messaging services (MMS)
What is D?
Multimedia messaging services (MMS)
Brian is developing a customer profile for his new dog-sitting company's target market. Which of the following questions is most relevant for developing his customer profile:
A. What do my potential customers enjoy doing in their free time?
B. What challenges do my potential customers face when caring for their dog(s)?
C. Why did my potential customers choose to get a dog in the first place?
D. What are my potential customers' jobs or occupations?
What is B?
What challenges do my potential customers face when caring for their dog(s)?