Bus & Marketing Practice Questions

Which of the following BEST refers to the four-step managerial problem-solving technique utilized to resolve process-oriented complications and to facilitate continuous improvements?

• Kotter's change model of management

• Four functions of management

• Divide and conquer

• Deming cycle

As part of a month-long promotional campaign, a national fast food conglomerate is selling its popular cheeseburger menu item to customers for half the normally-charged price. In so doing, the cheeseburgers are temporarily less expensive to consumers than those offered by competing fast food chains, causing demand for the product to quickly soar. Based on the information presented, it can be surmised that consumer demand for the cheeseburgers is ___?

• Static

• Inelastic

• Elastic

• Cyclical

A corporate culture that adopts a task-oriented perspective and espouses the viewpoint that time is a precious commodity, which can be saved, lost, or wasted completely, can BEST be classified as which of the following?

• Bureaucratic

• Monochronic

• Autocratic

• Polychronic

The six primary external factors that influence an organization's market strategy are which of the following?

• Social, demographic, economic, financial, political, and technological

• Social, economic, cultural, technological, competitive, and financial

• Social, legal, economic, technological, cultural, and financial

• Social, legal, economic, political, technological, and competitive

An operating system (OS), kernel, and device drivers would BEST be classified as which of the following?

• Application software

• Random access memory (RAM)

• System software

• Read only memory (ROM)

Which of the following lists the five stages of corporate citizenship in the correct order of operation or execution?

• Elementary, innovative, engaged, transforming, integrated

• Elementary, engaged, integrated, innovative, transforming

• Elementary, integrated, transforming, engaged, innovative

• Elementary, engaged, innovative, integrated, transforming

The two main functions that an external auditor performs while reviewing a company's financial records are BEST described as which of the following?

• Reviewing source documents (i.e. receipts from purchases, cash and credit sales invoices, checks written to cover business-related expenses, deposit slips, etc.) and compiling an unadjusted trial balance, ensuring that the credits and debits posted by an organization are equal to one another.

• Complying with generally accepted accounting principles (GAAP) and adhering to all Federal Accounting Standards Board (FASB) guidelines.

• Reviewing source documents (i.e. receipts from purchases, cash and credit sales invoices, checks written to cover business-related expenses, deposit slips, etc.) and entering an organization's accounts into the accounts receivable ledger.

• Complying with generally accepted accounting principles (GAAP) and attesting to the truth and accuracy of information contained within the notes to the financial statements and audit reports.

Stocks are also known as which of the following?

• Shares

• All of the answers are correct

• Securities

• Equities

Which of the following career development theories is broken down into five life stages and serves to link biological, psychological, sociological, and cultural factors to an individual's career decisions?

• Ginzberg's theory of career choice and development

• Holland's career typology theory

• Super's developmental self-concept theory

• Bandura's social cognitive theory

A business that is found to be using a trademark that is similar to that of a very well-known brand is said to be committing which of the following?

• Duplication

• Diffusion

• Distortion

• Dilution