Business Review Part 1

Managers usually find greater employee respect and support for work rules when which of the following situations occur?

• each individual is treated differently

• employees help to develop the rules

• the work rules are part of a union contract

• the rules are only applied to serious problems

In the business world, strategic planning is defined as which one of the following?

• short-term planning

• determines how work will be done and who will do it

• provides broad goals and direction for the entire business

• short, specific statement of the purpose and direction of the business

What is the accounting equation?

• assets = liabilities + depreciation

• liabilities = assets + depreciation

• assets = liabilities + owner's equity

• liabilities = assets + owner's equity

Which federal agency helps small firms get loans under special conditions?

• Bank Loan Administration

• Federal Reserve Administration (FRA)

• Small Business Administration (SBA)

• Consumer Protection Administration

Name the type of corporation which operates to accomplish a specific mission - other than to earn income.

• for profit

• non-profit

• S corporation

• chapter 7 LLC

Someone who organizes, manages, and assumes the risks of starting a business is known as a:

• director

• entrepreneur

• officer

• trader

When considering a credit card offer from Kensington Bank with a 5% cashback program, which question is essential to evaluate the offer's value?

• Can I get a debit card along with a new credit card?

• Is there an annual fee on this credit card and how much is it?

• Can I choose the picture that is on the front of my credit card?

• Who does Kensington Bank use as their spokesperson in the commercial?

The management function that provides information needed to improve business operations is known as:

• controlling

• implementing

• organizing

• planning

Which of the following is NOT one of the three major credit reporting bureaus?

• Equifax

• Experian

• TransUnion

• Air Isaac Corporation

What is the graphic symbol used by your company that represents your brand's identity?

• logo

• motto

• slogan

• tagline