Intro to Business Review

Which of the items listed here is not a typical function needed to operate a business?

• human resources

• food service

• finance

• marketing

Which two functions are often erroneously seen as the same?

• accounting and human resources

• accounting and marketing

• accounting and finance

• accounting and sales

Which part of a business plan provides an overview of what the business is about?

• sales

• market analysis

• management and organization

• executive summary

Which part of a business plan provides information about critical employees and the skills they bring to the company?

• business description

• market analysis

• executive summary

• management and organization

Compared to the roles of sales, finance, and accounting, marketing is considered to be one of the least important parts of a business, because its work is so isolated from that of other departments.

• True

• False

If you instantly recognize the name of a business, like Facebook or Amazon, you know the company has strong marketing.

• True

• False

You are marketing a cheap tablet that is especially geared toward the needs of high school students. What demographic variable would you most likely consider in your marketing campaign?

• marital status

• gender

• religion

• age

The actions of your marketing department most directly affect which part of your business?

• production

• sales

• finance

• management

Which of the following is NOT a part of the business cycle?

• Trough

• Sustainability Practices

• Peak

• Expansion

Which of the following indicates a period of time in which economic growth is happening?

• Contraction

• Expansion

• Trough

• Recession