Business Management Final Fall 2023

A system used to record, classify, summarize and report the financial position of a business is known as which of the following?

• Accounting
• Human resources
• Management
• Distribution

A(n) ____________ is a systematic grouping of individuals which has been brought together to accomplish a goal.

• Organization
• Informal structure
• Concord
• Affiliation

__________ structures are laid-back and undefined.

• Informal
• Staff
• Learning
• Matrix

__________ is the principle in which an employee should have only one supervisor to whom he or she is responsible.

• Chain of command
• Span of control
• Work specialization
• Supervision

Which of the following describes small businesses?

• Usually have less than 100 employees
• Usually have more than 100 employees
• Can be divided into many different departments
• Are usually national or global

Which of the following is the traditional management structure?

• Vertical
• Horizontal
• Expansive
• Pyramid

What kind of businesses are motivated to earn a profit?

• Private
• Nonprofit
• Government
• Public

Which of the following is one way business can be categorized?

• By product
• By width
• By salary
• By demographic

Which of the following describes consumerism?

• The societal effort to protect consumer rights by enforcing pressure
• The type of behavior which is truthful, fair and takes into account the well-being of all people involved
• Consumer awareness where air and water pollution is concerned
• When companies put forth an effort to produce and promote environmentally friendly products

A set of measures built into the production process to make sure the products or services meet certain standards is known as which of the following?

• Quality control program
• Standard regulation program
• Sales standards program
• Performance control program