Strictly Business LAP Quiz

1. What business activity involves providing information to make decisions about how to obtain funds to operate?

• 1. Financial analysis

• 1. Day-to-day planning

• 1. Quality control

• 1. Strategic management

1. Planning, organizing, and controlling are elements of the __________ function of business.

• 1. personnel development

• 1. strategic management

• 1. budget analysis

• 1. policy coordination

1. The business activity responsible for the flow of goods from producer to consumer is

• 1. administration.

• 1. free enterprise.

• 1. marketing.

• 1. merchandising.

1. Recruiting, selecting, and hiring employees are business activities that are usually the responsibility of __________ management.

• 1. strategic

• 1. operations

• 1. information

• 1. human resources

1. Accounting records are concerned with the __________ of a business.

• 1. goals and objectives

• 1. safety policies

• 1. promotional activities

• 1. monetary transactions

1. What is the business activity that provides information as to whether a business can afford to hire more employees?

• 1. Marketing

• 1. Production

• 1. Financial analysis

• 1. Strategic management

1. Which of the following is a true statement about business activities:

• 1. Business activities are independent of each other.

• 1. The way in which business activities are interrelated depends upon the business.

• 1. The relationship between business activities is the same in all businesses.

• 1. No one business activity affects all the others.

1. Which business activity ensures that the business will have goods to sell?

• 1. Strategic management

• 1. Operations management

• 1. Promotion

• 1. Financial analysis

1. Which of the following business activities has the most long-term impact on production:

• 1. Marketing

• 1. Financial analysis

• 1. Information management

• 1. Accounting

1. A business owner who is acquiring a partner to obtain additional operating funds is performing which business activity?

• 1. Financial analysis

• 1. Accounting

• 1. Debt financing

• 1. Franchising