SDC Intro to Business Practice Test

The amount that a company must pay to either borrow money or to owners as a return on their investment called:

• the Vig

• Cost of Capital

• Inflation Rate

• Discount Rate

Theprocessofcoordinatingpeopleandotherresourcestoachievethegoalsofan

organization is called

• Strategic Management

• Management

• Controlling

• Supervision

involves creating a vision for others to follow,establishing corporate values and ethics, and transforming the way an organization does business so that it is more effective and efficient.

• Organizing

• Production Management

• Tactical Planning

• Leadership

Generally, when the money supply (M1) grows fasterthan the economy itself, the result is:

• Inflation

• Unemployment

• Supply

• Economic Growth

Which of the following is NOT a core activity in a supply chain?

• Inbound Logistics

• Outbound Logistics

• Procurement

• Retail Management

A body of enforceable rules and principles of conduct is known as:

• Law

• Legal System

• Judicial Branch

• Common Law

Thebusinessplanshould contain a section that describesthe purpose of the business, the reason for it to exist.

• Values

• Goals

• Competitor Analysis

• Mission Statement

Production processes add ___________

• Need for more employees

• Increased complication

• More opportunity for for forecasting

• Value to the Product

is the process of evaluating human resource needs and then recruiting, selecting,developing,motivating,evaluating,compensating,andschedulingemployees to achieve organizationalgoals.

• Staffing

• Performance Evaluation and Response

• Human Resource Management

• Job analysis

What is exporting?

• When a company ships a product to a retailer

• When a company ships a product to another city in the same country

• When a company ships a product to another country

• When a company brings a product into the country for production