Nocti Business Practice Test

What act regulates the federal minimum wage for the interstate?

• Fair Labor Standards Act

• Taft Hartley Act

• Federal Insurance Contributions Act

• Federal Unemployment Tax Act

What is a partnership?

• a business owned by one individual

• a business owned by stockholders

• a business owned by 5 individuals

• a business owned by 2 individuals

One major difference between strategic and tactical planning is that tactical planning tends to be

• shorter term and more narrowly defined

• longer term and more broadly defined

• targeted towards middle management

• targeted towards new employees

In business, the letters CFO stands for?

• Chief Financial Officer

• Cool Fun Operator

• Cold Freezing Outside

• Chief Fixing Operator

What type of software program allows business people to combine graphics, transparencies, slides, and text for an on-screen display of information?

• Application

• Publishing

• Operating

• Presentation

What is the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources?

• organizing

• controlling

• management

• objectives

Choosing among two alternatives

• brainstorming

• technical skills

• human relations skills

• decision making

Amounts of money

• Profit

• Cash

• Balance

• Funds

The commercial process involved in promoting, selling, and distributing a product or service

• retailers

• marketing

• wholesalers

• buying

The exchange of goods for an agreed sum of money

• selling

• trading

• imports

• exports