Part 1

Your company has a new product in production. You need to establish your product quality control process. What is the correct order to establish your product quality control process?

• Set standards, Establish method, Review results, Refine/improve

• Establish method, Set standards,  Review results, Refine/improve

• Refine/improve, establish method, set standards, review results

A consultant determined that your company needs a better social media presence to market your school supply products. Which 3 methods should you use?

• Create profiles on online platforms, Create an online customer community, Use brand influencers

• Produce a television infomercial, create email subscriptions, Use direct mail flyers

• Create email subscriptions, create profiles on online platforms, Use brand influencers

Which type of compensation is for an employee who receives payment after completing a sale?

• Commission

• Hourly

• Salary

• Piece work

Which type of compensation is for an employee who receives a set amount for each unit created?

• Piece work

• Commission`

• Hourly

• Salary

Which type of compensation is for an employee who receives overtime pay for work extra time?

• Commission

• Hourly

• Salary

• Piece work

Which type of compensation is for an employee who receives a set wage each week without overtime pay for extra time.

• Commission

• Salary

• Hourly

• Piece work

What is the projected ending cash balance for a month with this information: Initial cash $1,200, Projected revenue $2,350, Gas $100, Equipment maintenance fees $290, Truck payment $400, Payroll $2,900, Insurance $120. Remember, if the amount is in ( ) that means it is negative.

• ($260)

• ($140)

• $940

• $2,640

In a SWOT Analysis which of the following is a strength?

• Improving economy

• Lack of expertise in some areas

• Low overhead costs

• Rising cost of product parts

In a SWOT Analysis which of the following is a weakness?

• Rising cost of product parts

• Improving economy

• Lack of expertise in some areas

• Low overhead cost

In a SWOT Analysis which of the following is an opportunity?

• Improving economy

• Low overhead cost

• Lack of expertise in some areas