MM_IA2 Review_Day 2_Quiz

Which of the following companies actually make their products in the United States?

• Beats Electronics

• American Apparel Clothing

• Craftsmen Tools

• Hollister Clothing

Kara owns a beauty supply store. She is paying all of the remaining expenses for the year. Once all of her expenses are paid, money that is left over is referred to as ______________.

• Net Income

• Divisional Income

• Variable Income

• Operational Income

How do you calculate Net Income?

• Net Income = Revenue - Expenses

• Net Income = Revenue X Expenses

• Net Income = Revenue/ Expenses

• Net Income = Revenue + Expenses

True or False: All Businesses Want to get the MINIMUM number and quality of products for the MOST amount of labor.

• True

• False

Roger is the chef at a resturant. He is looking to buy produce for what is in season for this time of the year. These expenses change throughout the year based on the season. Expenses that change and do not stay the same are ________ expenses.

• Fixed

• Net

• Exempted

• Variable

You need to hire a new employee for your art gallery. You can offer the employee a base salary of $25,000. How much will the true cost of the employee be for your business ?

• $31,250 - $35,000

• $25,000 - $26,000

• $48,000 - $52,000

• $39,250 - $41,250

When a supervisor assigns employees with specific tasks in which they have the experience and required skills to perform is called ____________.

• Intuitive Labor

• Demand Labor

• Specialization of Labor

• Driving Labor

True of False: Productivity referes to the ratio of how many hours of labor it takes to produce a product - essentially measuring the company's efficiency.

• Productivity

• Revenue

• Retention

• Variables

Why do American brands make their products in other places like China or Indonesia?

• Factory workers there are more highly trained and skilled than the US

• Factory labor there is more much expensive than the US

• There are no factories in the US

• Factory labor there is much cheaper than the US.

• F

Employees do not know everything as soon as they are hired. It is so important for businesses to provide _________ to all new employees.

• Insuring

• Training

• Taxing

• Recruiting