Business Basics and The 4 Functions

What role can someone in management have?

• Meeting goals and obligations

• Working with people in an organization

• Using resources to accomplish goals

• All answers are roles of management

Which answer below is one of the 4 P's of Marketing

• Placement
• Process
• Plan
• Pay

A business whose goal is to give back to the community or donate to a charity rather than to make a profit.

• Non-Profit Organization
• Multinational Corporation
• Corporation
• Franchise

The process of recording and reporting the financial data for a business.

• Accounting
• Management
• Marketing
• Information Technology

The process of leading and directing all people and parts of an organization.

• Management
• Marketing
• Information Technology
• Operations

The process of creating, promoting, and presenting a product to the consumers.

• Marketing
• Information Technology
• Operations
• Human Resources

Which of the Following provides a service?

• Rug Cleaning
• CD Store
• Clothing Store
• Sporting Goods Store

What is the foundation all businesses are based from?

• Needs and Wants

• Goods and Services

• Profit and Control

• Factors of Production

Which business function is the enterprise and pursuit of ideation, creation, communication, and delivery of profitable products and services to targeted customers for their benefit and for the benefit of society as a whole?

• Information Management

• Human Resources

• Operations

• Marketing

What is the process of recording, maintaining, and reporting an organization’s financial transactions and records?

• Accounting

• Finance

• Marketing

• Strategy