Introduction to Business SDC Practice Test Questions

The amount that a company must pay to either borrow money or to owners as a return on their investment called:

• the vig

• cost of capital

• inflation rate

• discount rate

The process of coordinating people and other resources to achieve the goals of an organization is called:

• Strategic Planning

• Management

• Controlling

• Supervision

(a)   involves creating a vision for others to follow, establishing corporate values and ethics, and transforming the way an organization does business so that it is more effective and efficient.

• Organizing

• Production management

• Tactical planning

• Leadership

Generally, when the money supply (M1) grows faster than the economy itself, the result is:

• Inflation

• Unemployment

• Supply

• Economic growth

Which of the following is NOT a core activity in a supply chain?

• Inbound logistics

• Outbound logistics

• Procurement

• Retail management

A body of enforceable rules and principles of conduct is known as:

• Law

• Legal system

• Judicial branch

• Common law

The business plan should contain a section that (a)   describes the purpose of the business, the reason for it to exist.

• Values

• Goals

• Competitor analysis

• Mission Statement

Production processes add. (a)   a. Need for more employees. b. Increased complication. c. More opportunity for forecasting. d. Value to the product.

• Need for more employees

• Increased complication

• More opportunity for forecasting

• Value to the product

(a)   is the process of evaluating human resource needs and then recruiting, selecting, developing, motivating, evaluating, compensating, and scheduling employees to achieve organizational goals.

• Staffing

• Performance evaluation and response

• Human resource management

• Job analysis

What is exporting?

• When a company ships a product to a retailer.

• When a company ships product to another city in the same country.

• When a company ships a product to another country.

• When a company brings a product into the country for production.